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RMB will not depreciate in short term

出自香港新聞網 - 樹仁新傳系學生實習習作

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(What's the sense of repeating the same line "RMB will not depreciate in short term"? "There is a free market in China recently"? What free market? As a matter of fact, China is still not considered a free market economy. According to the respectable Heritage Foundation's Economic Freedom Index 2015, Hong Kong is the freest economy in the world for more than 15 years in a row and China's standing is at 139, tucked under the Mostly Unfree category.)


Head of DepartHead of Department of Business Administration in Hong Kong Shue Yan University David Yeung is confident that RMB will not depreciate in short term.

Yeung believed, RMB would not depreciate or fluctuate steadily in short term. He said, unless RMB development in offshore market increases, it would led the great fluctuation to the value of the RMB. And there is greater possibility of depreciation.

At the National People’s Congress, Premier Li Keqiang said, China set its economic growth forecast to about 7% for 2015. Yeung said China has potential to acquire 7 % economic growth in 2015. Yet, it is impossible for a developed country to keep increase greater than 10% continuously.

Yeung said China is the second big economic system. PRC cannot direct the economic development anymore. And there is a free market in China recently.

Yeung said, Quantitative easing worsens the income gap between underprivileged and rich. And it will damage the stability of the society. He said, and citizens would demonstrate in street to voice out the social problems unless they are already satisfied with their livings.

--125061 2015年3月10日 (二) 16:34 (UTC)

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