El regalo de China a Europa

Los europeos están equivocados cuando se irritan con China porque al fijar su moneda al dólar ha fortalecido al euro frente a la mayoría de las divisas en los mercados internacionales. Deberían más bien, de considerar esa medida como un regalo valioso. En Nueva York y otras ciudades estadounidenses, los consumidores europeos están gastando en grande. Están disfrutando de primera mano el poder de compra reforzado del euro.

El tipo de cambio fijo también ha ayudado a hacer del euro una importante moneda de reserva que rivaliza con el dólar. Como resultado, están llegando a Europa inversiones de todo el mundo. Era predecible que el tipo de cambio fijo de la moneda china tuviera este efecto. Obligó a China a acumular enormes cantidades de dólares para estabilizar su moneda y dio al euro un impulso adicional a medida que el dólar se depreciaba.

Para protegerse de la caída del billete verde, China y otros países están convirtiendo una parte de sus reservas acumuladas en dólares a euros. El Fondo Monetario Internacional calcula que la proporción que ocupa el euro en las reservas en divisas aumentó al 26.4% en el tercer trimestre de 2007, comparado con el 25.5% en el segundo trimestre de ese año y el 24.4% en el tercer trimestre de 2006. El que el euro se convierta en una divisa de reserva importante concede ventajas económicas importantes a la economía de la eurozona. Los europeos deberían agradecerle al tipo de cambio fijo de la moneda china su contribución a ello.

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