What are the methods of balance of payments adjustment?
The method of adjusting the balance of payments is as follows: \x0d\ 1. In terms of trade, economic and administrative measures are taken to encourage exports, curb imports and reduce the trade deficit. For example, fiscal tax cuts or export tax rebates can be used to stimulate exports. \x0d\2。 Adjusting the exchange rate and the depreciation of the local currency exchange rate when the balance of payments is in deficit will help stimulate exports, curb imports and improve the balance of payments; On the other hand, when there is a large surplus in the balance of payments, the local currency exchange rate will rise to reduce exports, increase imports and narrow the surplus. \x0d\3。 Adjust interest rates to affect the inflow and outflow of capital. The central bank raises the discount rate and drives the market interest rate to rise, which can attract capital inflows and alleviate the balance of payments deficit; On the contrary, lowering interest rates can curb capital inflows and increase capital outflows, thus promoting the balance of payments. \x0d\4。 Adjust the balance of payments by using government credit and loans from international financial institutions. Intergovernmental credit can be short-term, that is, the central banks of two countries or several countries sign short-term credit agreements to provide short-term loan support; It can also be arranged in advance, that is, central banks sign a "reciprocal credit agreement" to provide loan support when necessary. \x0d\5。 Implement foreign exchange management, directly intervene in foreign exchange receipts and payments and exchange rates, and improve the balance of payments. For example, it is stipulated that all or most of foreign exchange income should be sold to the state, and some restrictions should be imposed on foreign exchange expenditure. \x0d\ Because the balance of payments is closely related to the domestic economy, it is usually necessary to adopt corresponding policies in domestic economic policies to indirectly affect the balance of payments. For example, domestic finance and banks implement austerity policies to reduce social demand, which can indirectly affect the demand for foreign exchange expenditure.