| Exchange Rate Instability： Japan＇s Micro-Macro Experiences and Implications for China |
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| 关 键 词： | 中国 人民币汇率 美元 日元 固定汇率制 |
Exchange Rate Instability: Japan's Micro–Macro Experiences and Implications for China |
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| Authors: | Mamoru Ishida |
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| Institution: | Advisor, Itochu Corporation. Email: . |
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| Abstract: | Since 1985, the yen‐dollar exchange rates repeatedly fluctuated and climbed to a level that could not be justified by economic fundamentals. The impacts on the Japanese economy were serious and far‐reaching. Since 21 July 2005, China has been moving toward a more flexible exchange rate regime. Keeping RMB exchange rates basically stable and providing Chinese industries with means to hedge exchange rate risks are essential for China's sound economic development. Edited by Zhinan Zhang |
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| Keywords: | exchange rate stability exchange risks forward exchange market |
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