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ry. The outbreak of the crisis forChina's economy, its influence is certainly some, but the specific how to reflect, it is difficult to say, full of a lot of variables. In terms of the RMB exchange rate, because in 2010 the Chinese government gradually tightening monetary policy, combined with China's continued inflation, and that high prices of the property market downturn, the stock market has been hovering around 2300 points, the size of Banks and other financial institutions credit continues to narrow, etc., under the stimulus of European and American investors will put China in the subconscious 'hot money' to 'near fire' of the euro, and before the 2008 financial crisis is just the opposite. At that time Europe and the United States of a large number of hot money to China, and combined with China's macro adjustment policies, in the Chinese market has given rise to a large number of hot money, to a certain extent, promoted China's economy is overheating. This outstanding performance in the real estate market overheating. The influx of hot money is what makes China's GDP under the condition of general downturn in the global economy, also can maintain more than 8 ﹪ of high growth, so many American economists feel very surprised. Therefore, now Europe and theUnited Statesarmy of investment to the European market, to a certain extent can form increased demand for the dollar, is conducive to the dollar, relative to the yuan has risen by narrowing trend. But this situation is reflected in the currency value, but not for long, after the yuan still appreciation against the dollar. Reason maybe is the European debt crisis, Europe and theUnited Stateson the European market capital injection measures, appeared serious differences, instant is withdrawn, I'm afraid stronghold, also not true. So in the long term, the appreciation of the renminbi trend will not change. Personally, I think, the occurrence of the European debt crisis, although the impact is very big, but forChinathere is a limit to the impact of economic entities. World famous financial crocodile soros has long pointed out that the European debt crisis has exposed the instability inEurope's financial system. American economist krugman also pointed out that the European debt crisis to the leaders of the European Union coordinated operation, actively preparing for that. But in response to the article, krugman also unceremoniously, points out that the eu's political creation, itself is a mistake. The eu since founded early, many political and economic issues haven't been solved in a constructive, this time in Europe after the outbreak of the crisis,France's unpopular attitudes and ignored in theUKis one example. Lead to implement the internal disunity of the bail-out plan often argue, unable to agree. Even before the European central bank President jean-claude trichet expressed his views: not only askGreeceto solve the crisis, and refuse the IMF aid toGreece. Is also the internal disunity of the situation, to a certain extent, formed a 'decision lag,' hindered the resolve of the European debt crisis. [6]

 

2.2 the RMB exchange rate under the influence of the subprime crisis

 

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