國(guó)際法視角下的人民幣匯率的法律問(wèn)題研究
發(fā)布時(shí)間：2018-11-17 09:45
【摘要】：匯率問(wèn)題不僅僅是一個(gè)純粹的金融問(wèn)題，還牽涉到一國(guó)的政治、經(jīng)貿(mào)、甚至是社會(huì)等領(lǐng)域，是一個(gè)極度敏感而復(fù)雜的問(wèn)題，由于全球貿(mào)易失衡不可能在短期內(nèi)輕易解決，因此，，有關(guān)國(guó)家與我國(guó)在人民幣匯率問(wèn)題上的摩擦將是長(zhǎng)期的，人民幣匯率將伴隨中國(guó)經(jīng)濟(jì)發(fā)展的整個(gè)過(guò)程構(gòu)成中西方長(zhǎng)期爭(zhēng)執(zhí)的問(wèn)題，因而也是我國(guó)當(dāng)前面臨的重大法律課題之一。自2002年以來(lái)，人民幣匯率問(wèn)題就成為國(guó)際社會(huì)的熱點(diǎn)之一，盡管自2005年7月的人民幣匯率機(jī)制改革——實(shí)行“以市場(chǎng)供求為基礎(chǔ)，參考一籃子貨幣、有管理的浮動(dòng)匯率制”以來(lái)人民幣市場(chǎng)化程度的加深以及人民幣的不斷升值而暫時(shí)得到緩解。但隨著2008年由美國(guó)次貸危機(jī)引發(fā)的全球金融危機(jī)的爆發(fā)，西方國(guó)家對(duì)人民幣匯率的指責(zé)又迅速升溫。在法律層面上主要是圍繞兩條主線對(duì)人民幣匯率進(jìn)行指控：一是指責(zé)中國(guó)政府人為地過(guò)于低估人民幣匯率，操縱外匯市場(chǎng)，違反了IMF第四條項(xiàng)下的“避免操縱匯率”的國(guó)際法義務(wù)；二是指責(zé)人民幣匯率低估相當(dāng)于對(duì)中國(guó)的出口產(chǎn)品提供變相補(bǔ)貼，違反了WTO《反補(bǔ)貼協(xié)定》的相關(guān)國(guó)際法義務(wù)。 在西方國(guó)家對(duì)人民幣升值的強(qiáng)大壓力之下，人民幣在經(jīng)歷了固定匯率制、雙重匯率制、單一的、有管理的浮動(dòng)匯率制和一籃子有管理的浮動(dòng)匯率制之后，為促使人民幣匯率機(jī)制不斷市場(chǎng)化和自由化又引入了一系列匯率改革措施。誠(chéng)然,浮動(dòng)匯率制在某種程度上要優(yōu)于固定匯率制，但它需要更為嚴(yán)格和高標(biāo)準(zhǔn)的實(shí)施條件——完善的國(guó)內(nèi)經(jīng)濟(jì)體制和成熟的外匯市場(chǎng)。人民幣兌美元的匯率自1994年取消雙重匯率制以來(lái)長(zhǎng)期保持在8.28-8.4之間，2005年匯改之后持續(xù)升值，至2013年底，人民幣對(duì)美元累積升值35%，但人民幣仍然具有長(zhǎng)期的升值壓力。 本文針對(duì)西方國(guó)家對(duì)人民幣的主要指控，以國(guó)際貨幣基金組織協(xié)定和世界貿(mào)易組織的相關(guān)規(guī)定為主線，由國(guó)際匯率體系和我國(guó)匯率制度的發(fā)展沿革、近年來(lái)有關(guān)于人民幣匯率的國(guó)際法指控引出人民幣匯率爭(zhēng)端的國(guó)際法問(wèn)題，通過(guò)論述國(guó)家貨幣主權(quán)及其限制問(wèn)題、IMF與WTO在人民幣匯率爭(zhēng)端的管轄權(quán)歸屬問(wèn)題、人民幣匯率在IMF與WTO框架下的合法性問(wèn)題、美國(guó)財(cái)政部的認(rèn)定報(bào)告及IMF的磋商報(bào)告，得出人民幣匯率安排并不違背相關(guān)的國(guó)際法義務(wù)，從而為人民幣匯率的合法性提供充分的法律依據(jù)、探求更加市場(chǎng)化和自由化的人民幣匯率機(jī)制、并為完善人民幣匯率制度提供可行性建議。
[Abstract]:The exchange rate problem is not only a purely financial issue, but also involves a country's political, economic and trade, even social and other fields. It is an extremely sensitive and complex issue. Since the global trade imbalance cannot be easily solved in the short term, therefore, The friction between China and other countries on the issue of RMB exchange rate will be for a long time, and the RMB exchange rate will accompany the whole process of China's economic development, which will constitute a long-standing dispute between China and the West, and therefore is one of the major legal issues facing China at present. Since 2002, the issue of RMB exchange rate has become one of the hot spots in the international community, although since July 2005, the reform of RMB exchange rate mechanism has been implemented "based on the supply and demand of the market, referring to a basket of currencies," Managed floating exchange rate system "since the deepening of the degree of marketization of the renminbi and the continuous appreciation of the yuan has been temporarily eased." But with the outbreak of the global financial crisis triggered by the U.S. subprime mortgage crisis in 2008, Western criticism of the yuan's exchange rate has picked up rapidly. At the legal level, there are mainly two main lines of charge against the RMB exchange rate: one is to accuse the Chinese government of artificially underestimating the RMB exchange rate and manipulating the foreign exchange market. In violation of the obligations of international law under Article IV of the IMF to "avoid manipulation of exchange rates"; Second, accusing the yuan of undervaluation amounts to a disguised subsidy to China's exports, in violation of the WTO's international obligations under the countervailing Agreement. Under the strong pressure of the western countries on the appreciation of the RMB, the RMB has experienced a fixed exchange rate system, a dual exchange rate system, a single, managed floating exchange rate system and a basket of managed floating exchange rate systems. A series of exchange rate reform measures were introduced to promote the marketization and liberalization of RMB exchange rate mechanism. To be sure, floating exchange rate system is better than fixed exchange rate system to some extent, but it needs more strict and high standard implementation conditions-perfect domestic economic system and mature foreign exchange market. The exchange rate of the RMB against the US dollar has been in the range of 8.28-8.4 since the abolition of the dual exchange rate system in 1994. After the exchange rate reform in 2005, the RMB continued to appreciate, and by the end of 2013, the RMB had a cumulative appreciation of 35% against the US dollar. But the yuan still has a long-term appreciation pressure. In view of the main accusations made by western countries against the RMB, this paper takes the International Monetary Fund Agreement and the relevant provisions of the World Trade Organization as the main lines, from the development of the international exchange rate system and the exchange rate regime of our country. In recent years, there have been allegations of RMB exchange rate in international law that lead to the issue of international law in RMB exchange rate dispute. By discussing the sovereignty of national currency and its limitation, the jurisdiction of IMF and WTO in RMB exchange rate dispute is discussed. The legitimacy of the RMB exchange rate under the framework of IMF and WTO, the US Treasury's confirmation report and the IMF's consultation report show that the RMB exchange rate arrangement does not violate relevant international law obligations. Therefore, it can provide sufficient legal basis for the legality of RMB exchange rate, explore a more market-oriented and liberalized RMB exchange rate mechanism, and provide feasible suggestions for perfecting the RMB exchange rate system.
【學(xué)位授予單位】：中國(guó)海洋大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：D996.2
本文編號(hào)：2337340
[Abstract]:The exchange rate problem is not only a purely financial issue, but also involves a country's political, economic and trade, even social and other fields. It is an extremely sensitive and complex issue. Since the global trade imbalance cannot be easily solved in the short term, therefore, The friction between China and other countries on the issue of RMB exchange rate will be for a long time, and the RMB exchange rate will accompany the whole process of China's economic development, which will constitute a long-standing dispute between China and the West, and therefore is one of the major legal issues facing China at present. Since 2002, the issue of RMB exchange rate has become one of the hot spots in the international community, although since July 2005, the reform of RMB exchange rate mechanism has been implemented "based on the supply and demand of the market, referring to a basket of currencies," Managed floating exchange rate system "since the deepening of the degree of marketization of the renminbi and the continuous appreciation of the yuan has been temporarily eased." But with the outbreak of the global financial crisis triggered by the U.S. subprime mortgage crisis in 2008, Western criticism of the yuan's exchange rate has picked up rapidly. At the legal level, there are mainly two main lines of charge against the RMB exchange rate: one is to accuse the Chinese government of artificially underestimating the RMB exchange rate and manipulating the foreign exchange market. In violation of the obligations of international law under Article IV of the IMF to "avoid manipulation of exchange rates"; Second, accusing the yuan of undervaluation amounts to a disguised subsidy to China's exports, in violation of the WTO's international obligations under the countervailing Agreement. Under the strong pressure of the western countries on the appreciation of the RMB, the RMB has experienced a fixed exchange rate system, a dual exchange rate system, a single, managed floating exchange rate system and a basket of managed floating exchange rate systems. A series of exchange rate reform measures were introduced to promote the marketization and liberalization of RMB exchange rate mechanism. To be sure, floating exchange rate system is better than fixed exchange rate system to some extent, but it needs more strict and high standard implementation conditions-perfect domestic economic system and mature foreign exchange market. The exchange rate of the RMB against the US dollar has been in the range of 8.28-8.4 since the abolition of the dual exchange rate system in 1994. After the exchange rate reform in 2005, the RMB continued to appreciate, and by the end of 2013, the RMB had a cumulative appreciation of 35% against the US dollar. But the yuan still has a long-term appreciation pressure. In view of the main accusations made by western countries against the RMB, this paper takes the International Monetary Fund Agreement and the relevant provisions of the World Trade Organization as the main lines, from the development of the international exchange rate system and the exchange rate regime of our country. In recent years, there have been allegations of RMB exchange rate in international law that lead to the issue of international law in RMB exchange rate dispute. By discussing the sovereignty of national currency and its limitation, the jurisdiction of IMF and WTO in RMB exchange rate dispute is discussed. The legitimacy of the RMB exchange rate under the framework of IMF and WTO, the US Treasury's confirmation report and the IMF's consultation report show that the RMB exchange rate arrangement does not violate relevant international law obligations. Therefore, it can provide sufficient legal basis for the legality of RMB exchange rate, explore a more market-oriented and liberalized RMB exchange rate mechanism, and provide feasible suggestions for perfecting the RMB exchange rate system.
【學(xué)位授予單位】：中國(guó)海洋大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：D996.2
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