[19990303]98-220_中国应对全球金融危机的对策：对美国经济利益的影响.pdf

For background information on the crisis, see CRS Report RL30012, Global Financial Turmoil:1Contagion, Effects, and Policy Responses, by (name redacted). Updated January 13, 1999.Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web98-220 EUpdated March 3, 1999Chinas Response to the Global Financial Crisis:Implications for U.S. Economic Interests(name redacted)Specialist in International Trade and FinanceEconomics DivisionSummarySince 1997, several East Asian economies (notably Indonesia, Thailand, and SouthKorea), and since 1998, Russia and Brazil, have experienced significant financialdifficulties, including sharp currency depreciations, plunging stock market prices, anddeclining economic growth. The global financial crisis contributed to a slowdown in thegrowth of the Chinese economy in 1998, especially its export sector, although it faredbetter than most of its East Asian neighbors, many of whom fell into recession.However, many analysts have expressed concern that a deepening of the global financialcrisis may induce China to devalue its currency, the yuan, in order to stimulate exportgrowth. Such a move could lead to a new de