【CCTV News】朱宁副院长解读人民币直接兑换日元的利与弊

发布时间：2012-06-01

浏览次数：6435次

编者按：2012年5月29日，我院朱宁副院长接受中央电视台英语新闻频道《News Hour》节目采访，解读人民币直接兑换日元的利与弊

Host:
For more on China and Japan decision to directly trade currency, we are now joined online by professor Zhu Ning from Shanghai Jiao Tong University. Professor Zhu, who exactly would benefit from this movement? What are some of the potential positive effects?

Zhu Ning:
I think almost everyone who is involved with the export-import business between China and Japan will be benefitting from this new announcement. I think there are two major potential areas for people who would benefit. The first is they will be a reduction and transaction cost, before the direct transaction, RMB Yuan and Japanese Yen would have to be exchanged through the intermediary of US dollar. So one would have to first buy or sell dollars, and then would use dollar to sell or buy Yen for Chinese importer or exporter, so now that we have the direct transaction, there will be one less layer of transaction being involved, so people would not have to pay that much money in terms of transaction cost. But I think a bigger benefit to both sides of the trade will be a better way to control the risks, because in the past, even though Yen and Yuan do not move much if the US dollar move by a quite bit, people would have to be exposed to such risk in the movement or the volatility of US dollars. Now that there is direct trade, people do not have to worry about this intermediary currency--- the dollar’s movement. So that I think that would be a big progress for people for trying to better manage their risks in trade and in investment.

Host:
Exactly, and professor Zhu, what about potential risks, every coin has two side, is there any danger of these heavy and negative impact on Chinese economy?

Zhu Ning:
I think it might. Now that the trades are much easier to make, people may get overconfident, because I think the Yen has been in a very strong position for the past few years, and people are getting the projection that Yen will remain strong, but I this is exactly the moment when people should get really cautious about what would be the future moment of the Yen, versus Yuan in the future. So I think, because the trade is so easy, people should extra careful about their judgments and their decisions.

【CCTV News】朱宁副院长解读人民币直接兑换日元的利与弊

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