China in the early nineties also joined the ranks of RMB two yuan to one U.S. dollar depreciation of 8.3 yuan from the dollar exchange rate against the pre-reform. In dollar-pegged exchange rate system,coach bags, economies can take the dollar ride. However, doing so also hides a huge cheap uggs risk, that is, when the dollar, the currency peg to the dollar will also appreciate it if the economy faces its appreciation of the exchange rate could not hold it, or that the strong, so that its currency artificially overvalued.
As the U.S. dollar continues to substantial appreciation of the Thai baht and other Southeast Asian real effective exchange rates of major currencies following the dollar continue to strengthen, weaken coach usa export competitiveness, export decline led to the rapid expansion of the current account deficit. The current account is the country received important project, the current account deficit, you have to borrow money to live. There are two general by law, first make the currency devaluation, reducing the cost of their exports of goods, thereby increasing the export surplus, trade surplus to cover the current account deficit, to achieve international balance of income, of course, the government can also implement export subsidies, such as export tax rebates increase in earnings, but it will be limited.
There is a more direct method,coach outlet, is the government through a variety of preferential policies and high interest rate policy to attract more foreign capital inflows, with a capital account surplus to cover the current account deficit, to achieve international balance of income. Is a prerequisite for policy adjustment capital market liberalization that capital can flow freely into, out of, and must be greater than the inflow outflow, will have a capital account surplus. In living systems, due to the baht exchange rate is artificially fixed, lost income and the international trade balance adjustment function, the face of the growing current account deficit, the Thai government in fact there is only one choice, namely to accelerate the pace of opening up the capital market, through the various kinds of preferential policies and high interest rate policy to attract more foreign capital inflows.
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