Chinese officials readily admit that communication has not been their strong point when it comes to dealing with international investors. The question of how China manages the renminbi is critical for global trade and commodity prices; the market turmoil following recent changes in the currency regime was exacerbated by Beijing’s failure to explain its intentions. Policymakers have now made it explicit that they have no wish to engineer a big devaluation. However, they are much less forthcoming about how they plan to reconcile a desire for currency stability with the realities of capital flight and a slowing economy.
中國官員們爽快承認，在與國際投資者打交道時，溝通不是他們的強項。中國如何管理人民幣的問題對于全球貿易和大宗商品價格十分關鍵；近期匯率形成機制變動后出現的市場動蕩，因為北京方面未能解釋清楚自己的意圖而加劇?，F在政策制定者已經明確表示，他們無意策劃人民幣大幅貶值。然而，在他們打算如何調和愿望（匯率穩定）與現實（資本外流和經濟放緩）的問題上，他們就語焉不詳了。