三、China IELTS diploma in a foreign country is equal to what level of English?
lELTS is the same level as TOEFL .More over , CTS is more or less top level as the foreign country.The hightest level is 5 level…maybe it is .I am not sure .st to reference my poinion…O O…
四、高分求翻译(不要POS机翻译)
In recent times, the appreciation of RMB has become a hot topic and this essay will examine the background and the reason for RMB’s revaluation. The essay is divided into three parts; the first provides the background of RMB’s revaluation, the second illustrates the reason for RMB’s revaluation, the third serves to provide the objective view on the effect of RMB’s revaluation, and the last will simply examine RMB’s future outlook.
1. Increase Self-motivated Economy
When exchange rate reflects the supply and the demand for foreign currency, firms and families are able to adjust accordingly and they are able to strategically use the foreign currency. In addition, if domestic firms are able to use the benefits of exchange rate, then profits from the exports of low end products will be increasingly easier and the motivation for domestic firms to invest in research and development is becoming smaller. This is harmful to the country’s long term growth and economy’s competitiveness.
2. Increase flexibility of currency policies
In order to maintain the fixed exchange rate between RMB and dollar, the People’s Bank of China have to buy dollars from the market and at the same time release yuan into the market. This makes it difficult for the government to control its hold on the currency within the target range. In order to balance the effect of foreign currency occupying the national reserve fund, the People’s Bank of China have to operate the so called “Domestic-Foreign Currency Hedging Operation”. This being, when the dollar is being purchased, simultaneously government bond or stock will be sold through the open market. The purPOSe is to get back the fund, moderately increase RMB’s influence and its flexibility.
3. Consistent to the ease of the “Overheating Economy”
Under fixed exchange rate, the pressure to appreciate will
transform into inflation – foreign currency occupying the reserve fund will cause the increase in currency supply, which will lead to inflation. Also, using the sales of government bond or stock is not a long term solution, at the same time it will also cause an increase in government’s financial burden. Enlarge RMB’s fluctuation scope will alleviate the pressure of inflation – RMB’s appreciation will pressure the domestic price to decrease because: 1. The decrease in the amount of foreign currency occupying the reserve fund will lead to the decrease in currency amount available in the market. 2. Appreciation of RMB will decrease the prices of the import goods, therefore it will also pressure the domestic price to decrease.