Description

The book analyzes the external influences, especially the influences of exchange rate variation, on China's current industrial restructuring under the development of open economy and globalization. It concludes that the key driving force for China's industrial restructuring is the development of its external sectors, such as the exchange rate mechanism and new strategies in the financial economy's capital market. The influences of the exchange rate variation, which is exerted through a unique mechanism, over China's industrial restructuring would be more obvious. This book also suggests that in order to keep improving the industrial structure, China should actively adjust the exchange rate of Renminbi (RMB) and achieve dynamic comparative advantages.