![]() ![]() Nothing in Citibank’s brochures, investment reports and/or any of Citibank’s material supplied to the customer, nor any customer investment profiling conducted for the customer, shall be construed as Citibank’s investment advice as regards the relative attractiveness of one investment option over another. It does not represent all possible outcomes or describe all possible factors that may affect the payout of a transaction in Citibank eFX.Īny customers using Citibank eFX acknowledge and accept that all transactions they make are made solely upon their judgment and at their discretion and own risk. Citibank is not making any prediction of future movements in foreign currencies by virtue of providing the illustrative examples. The scenarios are not based on the past performances of foreign currencies. This study shows that it is impossible to resolve China’s trade deficit, depending only on the movement of RMB’s exchange rate.The above examples and screenshots are hypothetical and provided for illustrative purpose only. ![]() These findings provide no support for the existence of J-curve effect and Marshall-Lerner Condition in case of China. The results show that real effective exchange rate has both negative and positive impacts on the trade balance in several sub-periods, and in turn, trade balance has same impact on real effective exchange rate for China. Then, using time-varying rolling window method to reexamine the dynamic fundamental relationship. Though, seeing structural changes in two series, we got the result those both long-run and short-run associations using full-sample data are wobbly, which proposes that the full-sample causation tests can’t be relied upon. The outcome shows that the real effective exchange rate and trade balance in China has no causal relationship. This study inspects the fundamental relationship between the exchange rate and the trade balance in China. ![]()
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