The Exchange Rate and Upgrading the Structure of Trade
In theory, the depreciation of the renminbi and a revival of external demand should improv e exports. However, in practice, it is another story. One possible explanation is that internal real exchange rat e appreciation leads to the transfer of resources from domestic tradable spheres to non-tradable areas. That is especially true in real estate where price rises weaken export competitiveness.
【CateGory Index】： F752;F832.6