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I don't know much about the economy. Does the devaluation of RMB affect us?

The depreciation of RMB has an impact on economy, life and work;

1. Imports will be reduced, and the profits of import-oriented enterprises will be reduced: because when importing goods, RMB must be converted into foreign currencies such as US dollars in the bank to buy goods from abroad.

After the devaluation of RMB, the same RMB gets less dollars and buys fewer goods, which leads to the increase of import cost and the decrease of competitiveness of imported goods.

2. With the increase of exports, the profits of export-oriented enterprises increase: after the devaluation of RMB, the dollars received from export goods can be exchanged for more RMB from banks, and the profits increase.

Therefore, the essence of the continuous depreciation of RMB exchange rate is to subsidize export enterprises and help exports, which is conducive to protecting low-end industries and backward production capacity, but it will increase industrial pollution and destroy the ecological environment, which is not conducive to the adjustment and upgrading of the national industrial structure.

3. Increase employment: after the devaluation of RMB, due to the decrease in imports, the competition in the domestic sales market has decreased, domestic commodity sales have increased, and jobs have increased; Because of the increase in exports, the profits of export enterprises will increase, which will also bring about an increase in employment opportunities.

4. The increase of import cost leads to the increase of production and consumer goods prices. The depreciation of RMB exchange rate will lead to the increase of domestic import prices and push up the overall price level.

The country needs to import a large amount of oil, iron ore, wood, soybeans, grain and other consumer goods every year, and settle in US dollars. If the RMB continues to depreciate, the import price of these consumer goods will rise, which will drive the cost of the whole industrial chain to increase.

5. For the stock market, the impact of local currency depreciation on the stock market is more complicated. The devaluation of the local currency will enhance the competitiveness of domestic products, especially for export enterprises, while the costs of enterprises that rely on imports will increase and profits will be damaged, which will adversely affect small and medium-sized import enterprises, and the company's net profit will also decrease accordingly, and the stock price will also be affected.

6. Prices of gold and international commodities may rise: at present, gold and international commodities are denominated in US dollars. The depreciation of the renminbi is equal to the appreciation of the dollar, which is equal to the rise in the prices of gold and international commodities. Therefore, when the local currency depreciates, it is necessary to hold and buy hard currency such as gold.

Extended data:

Currency devaluation (also known as devaluation, mbth devaluation) is the symmetry of currency appreciation, which refers to the decline of the value contained in or represented by unit currency, that is, the decline of unit currency price.

The devaluation of the currency has led to an increase in prices in China. However, under certain conditions, currency depreciation can stimulate production, reduce the price of domestic goods abroad, and help expand exports and reduce imports. Therefore, after the Second World War, many countries used it as a means to fight against the economic crisis and stimulate economic development.

1. Currency depreciation leads to price increase in China. However, under certain conditions, currency depreciation can stimulate production, reduce the price of domestic goods abroad, and help expand exports and reduce imports. Therefore, after the Second World War, many countries used it as a means to fight against the economic crisis and stimulate economic development.

2. Exchange rate instruments are often used to adjust the imbalance of a country's balance of payments. Governments all hope to use exchange rate tools to restore unbalanced international payments, especially when a country's international payments are in deficit, and hope to adopt the way of depreciation of local currency.

On the one hand, reducing the foreign currency price of domestic export commodities and enhancing the price competitiveness of domestic export commodities in the international market, thus promoting exports and increasing export volume.

On the other hand, increase the local currency price of foreign imports in the domestic market and reduce the price competitiveness of foreign imports in the domestic market, thus reducing imports.

In short, through the downward adjustment of the local currency exchange rate, exports will be expanded and imports will be reduced, so that the trade balance and even the balance of payments deficit will be reduced, balance will be restored, and even a surplus will appear.

3, did not improve the balance of payments, and even worsened the balance of payments. It increases a country's balance of payments deficit, which we call the failure of the balance of payments effect of currency depreciation.

The failure of the balance of payments effect of currency depreciation has always existed, but it has become particularly prominent in recent years. In the southeast Asian financial crisis of 1997, the currencies of countries like Thailand, Malaysia, Indonesia and South Korea all depreciated by 30% to 70%, and the depreciation rate is really rare.

However, the balance of payments of these countries has not been fundamentally improved for a long time. In recent years, the currencies of Russia, Turkey, Brazil and Argentina have also depreciated seriously, but the role of currency depreciation in improving the balance of payments is not obvious.

On the contrary, China withstood the impact of the 1997 Southeast Asian financial turmoil and insisted that the RMB would not depreciate. In fact, the RMB exchange rate is still rising steadily, but China's international balance of payments has improved year by year, and its foreign exchange reserves have increased year by year, from less than140 billion US dollars at the end of 1997 to more than 250 billion US dollars at the end of 2002.