On July 21, 2005,China made RMB exchange rate reform attract worldwide attention. Bank of China announced that the RMB increase the U.S. dollar exchange rate. Since 1998 The exchange reform to give up the practical implementation of the U.S. dollar peg policy in favor of a basket of currencies has three years old. In three years, how does the RMB exchange rate change and how we look at the RMB appreciation and what it impact the enviorment . In this I will speak them one by one. On the one hand, test results showed us the RMB exchange rate will impact the import and export of textile and garment industry of Zhejiang specific impact situation; As the future of Zhejiang Textile & Garment will face more severe tests and challenges, which made the adjustment of Zhejiang Textile & Garment Industry industrial structure and so on.
KEYWORDS:RMB, Appreciation, international trade
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