國際法視角下的人民幣匯率的法律問題研究
發(fā)布時間：2018-11-17 09:45
【摘要】：匯率問題不僅僅是一個純粹的金融問題，還牽涉到一國的政治、經(jīng)貿(mào)、甚至是社會等領域，是一個極度敏感而復雜的問題，由于全球貿(mào)易失衡不可能在短期內(nèi)輕易解決，因此，，有關國家與我國在人民幣匯率問題上的摩擦將是長期的，人民幣匯率將伴隨中國經(jīng)濟發(fā)展的整個過程構成中西方長期爭執(zhí)的問題，因而也是我國當前面臨的重大法律課題之一。自2002年以來，人民幣匯率問題就成為國際社會的熱點之一，盡管自2005年7月的人民幣匯率機制改革——實行“以市場供求為基礎，參考一籃子貨幣、有管理的浮動匯率制”以來人民幣市場化程度的加深以及人民幣的不斷升值而暫時得到緩解。但隨著2008年由美國次貸危機引發(fā)的全球金融危機的爆發(fā)，西方國家對人民幣匯率的指責又迅速升溫。在法律層面上主要是圍繞兩條主線對人民幣匯率進行指控：一是指責中國政府人為地過于低估人民幣匯率，操縱外匯市場，違反了IMF第四條項下的“避免操縱匯率”的國際法義務；二是指責人民幣匯率低估相當于對中國的出口產(chǎn)品提供變相補貼，違反了WTO《反補貼協(xié)定》的相關國際法義務。 在西方國家對人民幣升值的強大壓力之下，人民幣在經(jīng)歷了固定匯率制、雙重匯率制、單一的、有管理的浮動匯率制和一籃子有管理的浮動匯率制之后，為促使人民幣匯率機制不斷市場化和自由化又引入了一系列匯率改革措施。誠然,浮動匯率制在某種程度上要優(yōu)于固定匯率制，但它需要更為嚴格和高標準的實施條件——完善的國內(nèi)經(jīng)濟體制和成熟的外匯市場。人民幣兌美元的匯率自1994年取消雙重匯率制以來長期保持在8.28-8.4之間，2005年匯改之后持續(xù)升值，至2013年底，人民幣對美元累積升值35%，但人民幣仍然具有長期的升值壓力。 本文針對西方國家對人民幣的主要指控，以國際貨幣基金組織協(xié)定和世界貿(mào)易組織的相關規(guī)定為主線，由國際匯率體系和我國匯率制度的發(fā)展沿革、近年來有關于人民幣匯率的國際法指控引出人民幣匯率爭端的國際法問題，通過論述國家貨幣主權及其限制問題、IMF與WTO在人民幣匯率爭端的管轄權歸屬問題、人民幣匯率在IMF與WTO框架下的合法性問題、美國財政部的認定報告及IMF的磋商報告，得出人民幣匯率安排并不違背相關的國際法義務，從而為人民幣匯率的合法性提供充分的法律依據(jù)、探求更加市場化和自由化的人民幣匯率機制、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.
【學位授予單位】：中國海洋大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：D996.2
本文編號：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.
【學位授予單位】：中國海洋大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：D996.2
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