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20世纪90年代初期以后,我国开始出现贸易顺差,此后顺差不断扩大。外贸顺差在推动我国经济和外汇储备快速增加的同时,也为我国经济发展带来一系列的挑战。本文通过分析认为人民币汇率低估、国内高储蓄低消费的论点不足以解释我国巨额的外贸顺差,而生产资源价格偏低、生产效率的提高与工资水平上升不相称才是我国外贸顺差的根本原因。
Since the early 1990s, China started to experience a trade surplus, and its surplus has been expanding since then. While promoting the rapid increase of China’s economy and foreign exchange reserves, the trade surplus has also brought a series of challenges to the economic development of our country. By analyzing the argument that the RMB exchange rate is underestimated, the domestic argument of high savings and low consumption is not enough to explain China’s huge trade surplus, and the low price of production resources, the increase of production efficiency is not commensurate with the rising wage level.