In China, changes in the export sector’s structure similar to those observed in Japan are now taking place. These changes are likely to make today’s attempts to find an equilibrium yuan-dollar exchange rate seem just as chimerical in hindsight as previous calculations of the yen-dollar equilibrium rate.
中国也正在发生与当时的日本类似的出口产业结构的转变。这些转变可能使今天人们寻求平衡的人民币兑美元汇率的努力在事后看起来也许像以前对人民币兑美元平衡汇率的计算一样完全是一种妄想。