China´s Industrial Structure and Exchange Rate Arrangement

Some developing countries economists have already said that a country´s exchange rate arrangement should be adapted with its industrial structure, but these economists were not give a unambiguous interpretation for the exchange rate arrangement how to adapt the industrial structure. For a long time, china´s exchange rate arrangement met a dilemma between efficiency and stability. In This text, beginning from industrial structure and leading industry analysis, then, making a conclusion that in developed countries, developing countries export product is competitive and in developing countries, developed countries export product is monopolistic. So, china should choose not-free-floated exchange rate arrangement, and this is a long-term strategy.