Dong Qiangqiang's Story of Leaving Germany

Chapter 807 807. Invitation

"No no!" "Big Back Head" shook his head, and taught Dong Qiangqiang a serious lesson, "I don't think the RMB has appreciated, it has been depreciating..."

Dong Qiangqiang was really surprised that the other party's remarks were exactly the same as those of the American and some German media, but what surprised him was not that the other party had never studied economics, but the mismatch between the other party's identity and speech.According to his understanding, shouldn't people who have received higher education, especially the "big back" of German higher education, have basic theoretical knowledge and cognitive logic?
He looked at the professor suspiciously, but unexpectedly met the professor's "knowledge-seeking" eyes.

"In economic theory, if a country's currency continues to depreciate, it is indeed beneficial to exports, but after the Asian financial crisis in 97, in fact, no Asian country dared to let the currency depreciate. , has been trying to maintain the stability of the renminbi, which is also a fact that is obvious to all countries and recognized. In addition, although currency depreciation is beneficial to exports, according to economic theory, continuous depreciation can easily lead to an increase in local currency inflation or even hyperinflation, although 97 Asia Several years have passed since the financial crisis, but Asian countries have not fully emerged from the crisis and are still slowly recovering. In this general environment, it is unreasonable and unfeasible for (the central bank) to let the currency depreciate, let alone for the sake of Protecting exports and taking the risk of rising domestic inflation.” Dong Qiangqiang took a breath and continued, “In addition, I need to correct what you said just now. According to economic theory, a country’s continuous trade surplus will cause appreciation pressure on its currency, not the other way around. , but the central bank will not let the renminbi appreciate, because the consequences of doing so are obvious. So we can clearly see that even according to the standards set by the United States, China is not a currency manipulator." Dong Qiangqiang concluded.

"Wait! What consequences are you referring to?" "Dabeitou" asked with a frown.

"Please explain what the consequences may be if the RMB appreciates." The professor and the "big back" asked in unison.

"If you know the history of U.S. trade, you will know that the U.S. often threatens countries with a trade surplus with the U.S., and then lists those countries as currency manipulators, and then imposes sanctions, such as punitive tariffs." Dong Qiangqiang tried not to use adjectives in the sentence , because the emotion expressed by the adjective is too heavy, which is not conducive to the other party's acceptance of his point of view. Although he is not trying to persuade the other party, he still hopes that the other party can accept his point of view and conclusion. "For example, in the 60s, there was a growing trade deficit between the United States and the Federal Republic of Germany (West Germany). At that time, the United States accused West Germany of manipulating the exchange rate and asked the West Deutsche Mark to appreciate. A decision was made to allow the West Deutsche Mark to appreciate significantly.”

He intentionally bit the "pressure from the U.S. government" hard, just to see if the "big back" and the doctor would be embarrassed, but they both looked curious and didn't make a sound to stop him from continuing. .

"In the 80s, the United States started a trade war with Japan because of its trade deficit with Japan, and finally used the "Plaza Accord" to force the yen to appreciate, and the yen followed the footsteps of the West Deutsche Mark without any surprise." Dong Qiangqiang He paused, and was about to continue talking when the phone vibrated in his trouser pocket.He hurriedly pressed the "off" button through his trouser pocket.

Not only was there no sound in the room, but even the corridor seemed to have no sound at all.

"If the United States' accusations against these countries are correct, then when the exchange rates of these countries appreciate sharply as required, the trade balance between the United States and these countries should decline instead of rise. Interestingly, whether it was the 60s or the 80s In the [-]s, people could notice the fact that after the currency appreciation, the trade surpluses of West Germany and Japan with the United States not only did not decline, but continued to rise. That is to say, no matter how the exchange rate changes, the United States has not achieved the goal of trade balance .But both West Germany and Japan have slowed down or stagnated their economic development to varying degrees due to the appreciation of their currencies. The RMB is not the West German Mark, nor the Japanese Yen, so China will not continue to go after seeing so many tragic examples ( Appreciation) the old way. Also, apart from China, there are some member countries of the International Monetary Fund whose currencies maintain fixed exchange rates with the U.S. dollar, but these countries and the U.S. have perennial trade deficits, so it is rare to hear the U.S. accusing They are currency manipulators. Does this mean that currency manipulation is just an excuse for the US to accuse other countries? Use this excuse to suppress and sanction countries with a trade surplus with the US and force them to make concessions?"

This passage was like a burst of machine gun fire, and the two were swept away like a sieve. "Big Back Head" fell into deep thought, while the doctor's expression was at a loss. Only the professor looked like he had found a treasure.

"I want to know, as a Chinese student, how do you understand 'managed floating exchange rate'?" The professor smiled and made a seesaw movement with his hands in the air, "You can say what you think, Don't worry about it."

"First of all, I would like to explain that the following is my personal understanding, which does not represent the central bank. In the end, the official statement of the central bank shall prevail. In my opinion, a 'managed floating exchange rate' is committed to realizing the exchange rate based on a basket of currencies. The normal order plays its due role, so as to avoid overcorrection by the invisible hand and prevent the risk of out-of-control brought about by a purely floating exchange rate. It is more like pursuing a dynamic balance between the two rather than a simple and rude direct Set a balance point." Dong Qiangqiang emphasized, "I also want to add one point in particular, it is already 2002, and many countries in the world stand behind the United States and follow suit to criticize the RMB. One of the reasons to study advanced knowledge in Germany."

Although the professor didn't ask at all, Dong Qiangqiang felt that it was necessary for him to express his righteous indignation and his purpose of coming to Germany to study.

Being angry is not a bad thing sometimes.

Speaking of this, he feels that his performance today can be scored as 95 points, and he has expressed everything he has mastered.

"No shame" and "relieved" are his most intuitive feelings now.

The professor asked the "big back" and the doctor for their opinions, but neither of them said anything. Finally, the professor folded his palms on his chest: "Please go out and wait, and I will invite you in later."

Dong Qiangqiang left the office after thanking him.

"Hey, you talked in it for 45 minutes!" Dong Qiangqiang just walked out of the office, Zheng Chunhua greeted him immediately, and praised with admiration, "You can do it, kid! I can hear your voice outside, didn't you watch it?" When you come out, you dare to say it, unlike some people who are short at first, but even shorter when they see foreigners, and they don’t even dare to let out a fart.”

"Have I been here for so long?" Although Dong Qiangqiang was in a trance, he could still hear that the person she was talking about was Wang Yun, but he didn't have any curiosity now.

"Can I still lie to you?" Zheng Chunhua pointed to the watch on her wrist with a smile, suddenly noticed something, and asked concerned, "You sweat a lot..."

After she said this, Dong Qiangqiang realized that his shirt was soaked and he felt very tired. This interview was much more tiring than hunting wild boars.He was hungry, though it was not yet eleven o'clock.

"Well, I didn't feel it when I was inside, but now I just feel thirsty and hungry."

"From my experience, people who say such a long time can generally live through it. You must be fine." Wang Yun handed him a bottle of mineral water understandingly.

"Thank you. I've said everything I can say, and I'll leave the rest to fate..." Dong Qiangqiang took a big gulp of water before feeling cool.

"Your mentality is very good." Zheng Chunhua comforted, "I really can't give too much hope for class exemption, so maybe the result will be a surprise instead."

Only then did Dong Qiangqiang remember that he seemed to have hung up a call just now, so he quickly took out his mobile phone.

"By the way, the university cafeteria has opened. I'll take you there in a while." Zheng Chunhua said to Dong Qiangqiang who was staring at the phone.

"Okay. Then I invite you." Dong Qiangqiang remembered that he still owed the other party a meal, and hurriedly chased after him, "Don't be polite to me this time."

Zheng Chunhua looked him up and down, did not refuse his proposal, and suddenly said, "I have something I want to discuss with you."

"You said."

"Your eloquence is very good. I want you to be the publicity director of the student union. Are you interested in trying?"

Dong Qiangqiang was quite surprised: "Me?"

Zheng Chunhua nodded solemnly: "Yes, your qualifications in all aspects are very good, and you are very suitable for this position."

"But I haven't even found a house yet," Dong Qiangqiang glanced down at the phone that was turned on, "I may not be free in the short term, please understand."

"Think about it first, don't rush to refuse." Zheng Chunhua seemed to have expected Dong Qiangqiang's attitude, "I have already paid attention to the matter of the house for you, and I will explain it to you in detail at lunch later."

This sentence was beyond Dong Qiangqiang's expectation, he refused deliberately, but he didn't know where to start, so he was at a loss for words.

"There are more wolves and less meat here. Helping everyone find a house is one of the jobs of the student union, not just for you." Zheng Chunhua gestured, "So every student in the student union is very important, and I hope everyone can Contribute to the student union."

Her eyes were sincere and open, Dong Qiangqiang felt a little ashamed, and hurriedly looked down at the missed calls.

When he saw that the name of the missed call was Duanmu, he thought about it for two seconds and put the phone away again.Since there are various online communication tools, more and more friends use OICQ or MSN to communicate with each other. If you make a direct call, it is probably not a good thing.He is not in the mood to hear bad news now.

"Then it's settled?" Zheng Chunhua asked.

"it is good."

At this time, a male voice sounded in the office: "Mr. Dong, please come in."

Zheng Chunhua gave him a thumbs up: "The result is out, I wish you good luck!"

Dong Qiangqiang nodded, took a deep breath, and walked into the office with his head held high.

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(End of this chapter)