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After a researcher at the Chinese Academy of Social Sciences (CASS) proposed a 10-percent increase in the Chinese currency to upgrade the industrial structure, many economists in China disputed his statement and pointed out the risks of abrupt renminbi (yuan) appreciation. Zhu Daming, an independent economic analyst in Shanghai, published his concerns in the Economic Information Daily. Edited excerpts follow:
After a researcher at the Chinese Academy of Social Sciences (CASS) proposed a 10-percent increase in the Chinese currency to upgrade the industrial structure, many economists in China disputed his statement and pointed out the risks of abrupt renminbi (yuan) appreciation. Zhu Daming, an independent economic analyst in Shanghai, published his concerns in the Economic Information Daily. Edited excerpts follow: