See some people do not understand, he went on to explain, for example, U.S. investors with relatively high interest rates to lend, when the loan expires, nike shoes for women you can also use the local currency at a fixed exchange rate in exchange for dollars, get a stable interest income. If rates fall, the local currency is devalued, it nike air max will, loss depends on the extent of the devaluation. Briefly, these institutional investors are betting that the local government has the ability to sustain a fixed exchange rate. Thus, the fixed exchange rate is a necessary condition for attracting foreign investment.
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,nike shoes for men, economies can take the dollar ride. However, doing so also hides a huge 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 nike air max 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 ugg skor 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.
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