Monday, December 27, 2010

WTO Director General Pascal Lamy: RMB appreciation does not help solve the trade imbalance

Web site according to the World Trade Organization on October 15, publication of the news that the WTO Director General Pascal Lamy, on the same day in France · Senate speech, said that the appreciation of the Renminbi would not help to solve the so-called trade imbalances, also help to reshape their product competitive.

Lamy pointed out that the trade imbalance of argument based on a "significant vulnerability" statistical standards. Electronic product IPOd case that product from design to completion, the industrial chain often involves many countries, "world manufacturing" more and more, less and less of a State of manufacture. Pascal Lamy said: "the Chinese exports to the United States, a set of iPod, US Customs will be the whole product value (150 USD) included in the import data, like this product completely from China ... In fact, $ 150, only 10 dollars come from China, the rest can only be called before export. ”

In this respect, Commissioner Lamy stressed that the industry chain upstream of the most innovative countries to earn a profit, the profit from the downstream manufacturing sectors, but statistics only focus on the downstream end of the production chain. Lamy believes that it is error of led trade seemingly imbalance, he called for the adjustment of existing statistical standards as soon as possible in order to adapt to the changing situation.

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