(外文文献)人民币升值对我国纺织品服装出口的影响(外文文献)人民币升值对我国纺织品服装出口的影响.doc

Trade liberalization and patterns of strategic adjustment in the US textiles and clothing industry Belay Seyoum U.S.A. The overall environment facing the US TC industry will be one of rapidly changing market conditions and technological innovation. With the phase out of quotas and growing number of trade agreements, the US TC industry is being exposed to intense competition in export and domestic markets. This is likely to lead domestic industries/labor to demand intervention by national governments to mitigate the adverse impact of trade liberalization . Chinese leaders have expressed strong opposition to outside pressure on their currency policy, calling it a form of protectionism and interference in China’s domestic economic policy, and some have even questioned whether the currency is undervalued at all. However, on June 19, 2010, the Chinese central bank, the People’s Bank of China (PBC) stated that, based on current economic conditions, it had decided to “proceed further with reform of the RMB exchange rate regime and to enhance the RMB exchange rate flexibility.” It ruled out any large one-time revaluations, stating “it is important to avoid any sharp and massive fluctuations of the RMB exchange rate,” in part so that Chinese corporations could more easily adjust (such as through upgrading) to an appreciation of the currency. Many observers contend the timing of the RMB announcement was intended in part to prevent China’s currency policy from being a central focus of the G-20 summit in Toronto from June 26-27, 2010. On June 22, 2010, the RMB appreciated by 0.43% against the dollar (to 6.80 yuan) over the previous day, which, at the time, was the largest daily rise since reforms were implemented in July 2005. However, on the following day (June 23) it depreciated to 6.81 yuan. As indicated in Figure 3, the yuan’s exchange rate with the dollar has gone up and down over the past few months, but overall, it has appreciated by 1.9% through October 1, 2010, with mo