In recent days, the Fed's interest rate hike and the dollar's rise have tested emerging market countries.
The Argentine peso, the Turkish lira and the Russian rouble have all suffered a relatively large devaluation, while the currencies of India, Indonesia, South Africa and Brazil are also facing tests. "Now the dollar and U.S. stocks are moving up," he said. Xu Mingchi, deputy director of the Institute of World Economics at the Shanghai Academy of Social Sciences, told reporters that this short-term impact on the market, some countries will be affected, if the long-term further decline in these countries ' currencies, will affect our trade and investment between these countries. "However, some countries have their own special reasons for the fall in currency exchange rates." Argentina, for example, is one of the main reasons for the peso's decline due to its inability to repay its debt.
"Xu Mingchi that this wave of declines is estimated to be short-term. How should China's financial regulators and Chinese companies cope with a sharp fall in the exchange rate of multinational currencies? In the case of Sheihui, Ph. D., a doctor at the Academy of Social Sciences, China is very different from these countries, and the renminbi does not have such a slump, so we can do our own thing in the current situation.
Zhang Ming, chief economist of Ping An securities and a researcher at the Institute of Social Sciences, said that China does not have to follow suit to raise interest rates in the face of US interest rate hikes.