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较之于入篮前,中国汇率问题目前更处于一种被挟裹的状态。入篮在某种意义上自动构成了一种对IMF的部分汇率主权权能的隐性让渡,即应根据IMF对篮子货币的要求采取相应的积极举措在国内和国际两个层面促进汇率的基本稳定并接受IMF框架的相应监督。在IMF框架存在缺陷的现实情形下,利用多边监督和共识机制的联动,促使汇率主权让渡的国际合作,最大可能地体现公平性和自主性,应该是现实可行的举措。特别是在中美两国之间,应以尊重他国汇率主权为前提,基于双边共识持续推动多边共识,在G20机制下共同为稳定全球金融秩序做出相应贡献。
Compared to the pre-basket, the exchange rate issue in China is now in a state of being hauled away. In a certain sense, entering the basket automatically constitutes a kind of implicit transfer of the sovereign right of the exchange rate of part of the IMF. In other words, it should take the corresponding positive measures according to the requirements of the IMF for basket currencies to promote the basic of the exchange rate at the domestic and international levels Stabilize and accept the corresponding supervision of the IMF framework. In the real situation where the IMF framework is flawed, the linkage between multilateral supervision and the consensus mechanism should promote the international cooperation in the transfer of sovereignty over exchange rates to reflect the fairness and autonomy to the greatest extent possible. This should be a feasible measure. In particular, China and the United States should continue to promote multilateral consensus based on bilateral consensus on the premise of respecting the exchange rate sovereignty of other countries and jointly make contributions to stabilizing the global financial order under the G20 mechanism.