BÀI TẬP NHÓM MÔN TÀI CHÍNH QUỐC TẾ QUAN HỆ KINH TẾ MỸ - TRUNG VÀ SỰ TRỖI DẬY CỦA KINH TẾ TRUNG QUỐC

PHẦN I: QUAN HỆ KINH TẾ MỸ - TRUNG VÀ SỰ TRỖI DẬY CỦA KINH TẾ
TRUNG QUỐC.
1.1. Tổng quan về quan hệ kinh tế giữa Mỹ và Trung Quốc
 ! "#$%
 &'(&)*+*,-$./0&)1$234 &
56 789*:"4"6 ;<"=%"4 8>
?+*/@;A(&)B%(,C$D"7=E"&+*
56B+@F" $%56G41&'7!H$6IJ
7/
=7KLM=74N7OP=76Q"+$?
R+FA$37(S7T, 4(K&)U
V =7"2$! W@3XY

 $2%S@)T
Z77[\!- ]>6  ! ]
(K&)/\ $%"$2CO^-]-$ ! "R
?,_78 I])W` ">a%7S"W
` 7S,SJ"&)1
 ! C$!+/
& (=7J^bL"++*4^c>"$%
,=&'7!$.&)"*6,6#!
4/dI+*?7$.&J +<I7/
L=7+$%"TX[ ;e,_(#!4f4W! 
1=7KLLL" gX-d,Y&h%)/
#bL$KLLM" &'(&)$2=#PN^KONijk/
V 6KKLL"l^Jmn/W?
7S,&)8^ $&h .%G4 &'J
/
j$% KLLP"&l ! 0 dop ,\q \44lr&)7S
&'Y8W !&5)/
1 W@3XY$&5,$)&64JSIT49$!J"7ls !

$S4)=&h$.&+ &'(&)/
1
X=7+" =7KLL"TX4n,7[J:0D[t7
W >,S$ !4&5", D7I?+*$344
$ !$G(K/
[IK&)$256@FS4J I .47
&);B$. S+ 6=7KLLb/V=&l4J,-
$.7! 6KLA)?7<&'7!^<= J/
>,+6$ !3&)+4*?u6XYk&'
TS7SH$76&'7!7)/
X6+$%"v%J:[XY$=7"^$37J
G741/
@;AI7S2h;)G=.7 74
1"+ G4JI&).w', h/j
OP=74"&)$2*+*l$6&58J
G&'7!$.&/
///&'7!
\ >$&5#[<d^0 doYYY&'
7!(&)&+U
Bảng 1.1 Kim ngạch xuất nhập khẩu Mỹ - Trung giai đoạn 2000 - 2013
Năm
Mỹ xuất khẩu sang
Trung Quốc (Tr.USD)
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với năm trước
Trung Quốc xuất khẩu
sang Mỹ (Tr.USD)
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so với năm
trước

KLLL x"bP/KL LL"Lb/KL
KLL "bK/OL b/PKy LK"Kb/ML K/Kxy
KLLK KK"K/L P/OPy KP"K/xL KK/MLy
KLLO Kb"Ox/M Kb/KLy PK"MOx/L K/xy
KLLM OM"MK/ K/Oxy x"xbK/LO K/LOy
KLLP M"K/L /xPy KMO"ML/L KO/y
KLLx PO"xO/L OL/OLy Kb"M/OP b/KLy
2
KLL xK"Ox/b /Kxy OK"MMK/b /Ly
KLLb x"OK/bM L/bLy OO"K/xO P/Lby
KLL x"Mx/xb 1L/OMy Kx"OO/bb 1K/Kxy
KLL "/Lb OK/KPy OxM"PK/xO KO/My
KL LM"K/PK O/Ky O"O/KO /MOy
KLK L"PP/P x/My MKP"xKx/KL x/Py
KLO K"Ox/Ob L/Py MML"MM/L O/Mby
zNguồn: The U.S. Census Bureau{
Hình 1.1: Quan hệ xuất khẩu giữa Mỹ và Trung Quốc trong giai đoạn 2000 – 2013
zNguồn: The U.S. Census Bureau{
|\7rgG+4^J[<d^0 do^^"C 
M=7zKLLL1KLO{"&'&'7!(&)&+U$S=rC
4tJK&) :&hJ=7.$G;&' C7$S
}<S~&'7!(K&) /S$37$6Rf($&h
$D:rC4tJK&)$ !KLLL1KLO.&,$S=I7A
G)$S=rC4tJ=7 :&h
&h&h '$S=rC4tJ :&h/
rgG +$"7=rC4t=7J+
&h 'CG+ )7=$rC4tJ+
/Wh$37"$2l:&hrC4t=&l
CJ"w:&h8 &'Y}=C$>
rC4t~J/=7KLO#"47!&'7!G(

$!PxK"bNijk"=M"y+ )A4o"$!^774N<7)/[ 
+&5r+ )PNijk h4o$. ! /
 4$%"#s$.=7KLK"$2&5`^7?•"l:
&hrC4t)CJ"&)1$6&'7!)
J/
3
W=7KLO":&hrC4t%)OJ&)"
HrC4tJ+=)Ly+ )=7KLK/w$2l
&)%D;46)&J"w$37$;:
)&J;46/
//K/$.&U
VG7@$.&"7S (D$.&&) 8J
"w7S ($37$$.&$&5*8&)^J
6; /$=7KLK$.&*z€k•{#
P"MNijk"I7"y+ )=7KL/ 4$%=7KLK$.&
*z€k•{# x"MPNijk"=O"Ky+ )=7KL/
zRhodium Group, 2012)
Hình 1.2 Đầu tư trực tiếp từ Trung Quốc vào Mỹ giai đoạn 2000 - 2012
(Nguồn: Rhodium Group/The Washington Post)
,3$D+ C=7KLLL$.#*# M
ijk"6:$.&*=6=7#=7KLLL$=7KLLP";
4J I4 .=7KLLb6:$.&%I7+ )=76=7&)"
4
aH&$.Nijk=7/j$%$.&#C!$=C7!
7F"$!'PNijk =7KLL/ =7KLK6:$.&*#
 =l!z+4+<I7aH4 IM"Nijk =7KL{^
$x"MPNijk C;H€k•#  $ !
$@,$ !KLL1KLKC)" 'G+ )$ !=7KLLL1KLL/
Hình 1.3: Đầu tư trực tiếp từ Mỹ vào Trung Quốc giai đoạn 2000 - 2012
Nguồn: BEA; US Department of Commerce

,3$D^C;HG$.&*# %r
&)=;.6=7#=7KLLL$=7KLL#"MNijk^K"N
ijk/#=7KLLb$=7KLK;H€k•#$T =8+
)6=7&)$%/ =7KLL€k•#  C)P
Nijk&%r&)I7;.6=7+$%)=7KLPP"OLNijk
=7KLKP"OPNijk/
&$.&(&)C@F)
&5$.&C) $%$.&*z€k•{# )
5
'CG+ )$.&*z€k•{# "<3 =7
KLK€k•# P"OPNijkCb.€k•# /
%7!%3C& &'7!"&)7&
)47!rC4t+C.M.rC4tJ+
zKLL1KLO{Y $.&"!$.&)>A8J
/[I*+*}.%~ 74-,%"4=44%%
36h/
1.2. Sự lớn mạnh và “trỗi dậy” của nền kinh tế Trung Quốc:
%;)"$>;?"^^^ R/
[w&V7"+4JG"$2,_$S&,IJ
9"6$S^[J9r2S")7>Y$&5*87>Y44
 !%z7>Y44 !%|>V{/d7>Y?7
4J I^78"4`^|>6&)W>•#,_"$Dh+*
63.4oJ6G47)&G4XI"G4>
7)•‚+ƒ",S2$! .r6$:!&)$A5"*
8G4:&h"%G./
&)4,-$.I64*; %&'7!6$?OP=7"
$2;Y+67 G4C„ "Y"$G43?7"
, C4>I&'$>#G4 ./d3#47ls
&'7!$.&&) *6I6:&h*;  =7
"$2…7 6G463C^)")

T+It7 &)=7z†kv{=&l,Y.Ly$KLO/
 (=7.$?"$2T^&7S&h4&'
7! .)/V!"$2lG4))"G4
&'7!)C"$37$)J$.&*&) z€k•{"+I
rC)C"-7(&5;*( !)C/
/K//YY4&)4I6
&)=7"";&)+*2$! J[J: !W>";
Y7S4 !/S.) +I&54J$C&)$2$&5
6
$! ;‡437+ 6,l&)"J37$@7<^+IrC"437+ 66"
6D*$&5?,T +CJG4/
[+6J[J(G4&'$Y4>
I"J,lY.64!JG4$&5If$G
,lG&'z; $%%C$S'5 6>"
>?">;?{"!.&4>D!"&'7!&) 
;H$.&J)! 6&)`^|>w/
\ J"$ !PO1b"=&l†kv*
=7&)$!x"y"7@;AG? …+4 
$ !C%C$GY6J&h%$!7$S+I
rC 7S !6f; :/\ d8c+;;+ &)Y
,Y†kv*=7J $ !a4 IM/My/
/K/K/YY4+I6
[J =7bz+6J[J:  =7
x{$2$:6e6+64\  6$GJ`^
|>w,…6#,&)I6G4\ ^-*; %:&h
7ls&'7!"$.&)&'?")8…$G+F7=$6
43$S=&l4? 7+/&2$! W@
3XY"4R+&JI64J"$2%U"Không cần biết
mèo vàng hay mèo đen, chỉ cần bắt được chuột đều là mèo tốt"/X-$.#=7"
$&7S+I64/

 [G&',-$.&$26G+l( >;?" g8
,67S.?DJ8^:&h*; / "&h;?$&54
4$3,-$.4; ^J8/
 [J,$@44;8\ ,h,3)7<$R$.&
&) "$t7!rC4t"4t6+It7> +
/
 d37+ 64J6; 46$2$&5  GCa
$:&'"&h$&5g !$S!^6^-:&h
*; "4>I;&)+*a$! &);BJ4 !&)/
 d37+ 66IJ&)G7S !6+It7$2;.;.$&5 !,_/
7
 ` !,_6 I&'7!44!)'R$.&*
&) z€k•{/
Thành tựu thu được sau cải cách kinh tế:jKL=7I6"*7
$!$&5C$6$36&)$638/
 $S=&l,Y?†kvJ $ !ˆKLL$!
4 I.Ly"=C$>+ )$ !&)4I6/T+It7 
&)z†kv{J=7$!b/KLP"MNk"\ N6$ 6,Y
?z$&5;Y P=7G{b"KbkijkY†kvJ$!rC
ra/LLLijk"C'OP.JV7zKb"PMNijk{/
 \ +JI" !&'J$2&'^#:
OK^:^)"47!rC4t=L./p^ =7
KLLL"47!rC4t !&'J$!MMNijk)7rC
+^KMNijk/
 %$S=&l4 C[?u"%:
&hS$:)C)/'R$&5G$.&&)
 ",Y?h4oP1KLLL^$MNijk=7"7LyT$.&
*&) #[?•"X- W>u/[S47!rC4t)
$.&&) "l&)$)G;*( !
z+XI{)'xPNijk/

/K/O/YY4mnU
mn6/KLL"!0S:,S&lJ
mn!k z{/"R,Ch"6^mnB!"
-! +g,S$T"<3l($37T,+US'
+l6f,S76‰0+l(‰XC$GN6$D?
;?‰XG6$@):&h7;,l#/
WG(,&);J"I-$9*U>>
>>/j*,6 9*4 G^4
^$ 6…+F4>a]?r&lJ)]zŠ ;‹+Š 4+ {
)(7@>7H%78l]>!J)]
 &'4>r-7/
 Những kết quả đạt được:
8
[%3C*T,CJG4 $ !
mn$2l:$.4)
) =7KLL/=7KLL%3$&5r\7=774%+*
<DG4+;&?76$SJS4J I .=7
KLLb"$G%3CŒ>$S=&l†kvJ 
$ !KLLˆKLOz=7KLL$SM"Ky"+$%<r"xy =7
KLLb""Ky =7KLL,Ch=^L"My =7KLL)+$†kv
&5>XI"+$%I7;Yl7"y =7KLKKLO{/W37
!7S+gT,74$!$&5 =7KLLU
0Y/MU$S=&l†kvJ#=71KLO
zNguồn: China’s Economic Rise{
 l&)rC4t)C4tY)UXCC4J I
"T47!rC4tJ=7KLLB=$G$G"
R&)l&)rC4t)C4tGY)
z\ +JT<0I>,LKLL{/=7KLL"
 &'%J=8^$.O/LLLNijk=7KLL+
)aPL"xNijk=7KLL/ $%"rC4t=C.P.4t

=CM"./
 l^H &'7!$&')/
9
 †e,_!G !&'*$R74G64*
/
 V&5XI$3lG4)K)UQuý II/2010, Trung Quốc đã
chính thức vượt qua Nhật Bản để chiếm ngôi vị nền kinh tế lớn thứ hai thế giới/†kvJ
XI f••KLL/KbbNijk" 4$% +J
/OONijk/
Hình 1.5: Thứ bậc của kinh tế Trung Quốc từ 2000 - 2010
zNguồn: IMF, VnExpress.net tổng hợp{
 C;  6> &)&) U
S$2>;  xOKLL"
$:7 I;  &)&) /`%
*#KLLb"4>a75 6> &)"7H%.6
C&5CR$.&&) /[6; 
T,)PM>8 ;+6PLL>)C)J! Fortune"
=7KLLa%K>
 [6>G$!,&))U\ +4^7)C
JmnKLKL"47!rC4t;7J$!Nijk
=7KLL"7OL"yT47!^ )/|C4t77@
w$!OLaijk"7O"y47!)/[6>G
46&$D$;<>>w%G7=63C
)$3$6.^;A &)rC4t/
10
 jIrC^<>>GC)U$2&5$3l
+IrC^<>>GC).$.^ =7KLL/=7KLL"I
+$G&56b4a<)G+&5/>
>>$2%(,&)63$643$37lS7>"?
;*&'=&h !&'/&=7KLL"+I&5>>J8

aK"M"Y$=7KLL" +$2b"Kx/
Tóm lại chúng ta có thể nhận thấy nền kinh tế Trung Quốc thật sự trỗi dậy từ sau
quyết định cải cách kinh tế dưới thời lãnh đạo đất nước của ông Đặng Tiểu Bình ở cuối
năm 1978, đầu năm 1979 và lớn mạnh nhanh chóng từ sau khi Trung Quốc chính thức
gia nhập WTO vào tháng 11/2001. Sau khi vượt qua cuộc khủng hoảng tài chính toàn cầu
năm 2008, nền kinh tế Trung Quốc dần phục hồi và đến quý II/2010 đã chính thức vượt
qua Nhật Bản để chiếm ngôi vị nền kinh tế lớn thứ hai thế giới.
11
PHẦN II: THÂM HỤT THƯƠNG MẠI VÀ VẤN ĐỀ TỶ GIÁ TRONG QUAN HỆ
KINH TẾ MỸ - TRUNG.
2.1. Thâm hụt thương mại Mỹ -Trung:
K///Y!?7< &'7!J1U
[6?&'7!+*^(6:,…GJrC4t+ )
4tJ7SG4 7Sh4oC$:/W%7(4t
rC4tJ7S/[6?&'7!' Y!,:?7<
$&58$'I?7<&'7!47S&)4tG'rC4t/
 rC4t(K&)"Y!?7<&'7!rI4
7S4tz#4{G'rC4tz $%{/0
$$&5$G !7,YJ%7
/
V,:?7<&'7!•
74I D+4^$&5C,l\i\;j\+[\++
X\z[<d^0 do{GYYrC4tQ6?&'7!J
)6=7z#bP$KLO"WVUijk{&+U
Hình 2.1: Cán cân thương mại Mỹ - Trung giai đoạn 1985 - 2013
(Nguồn: The U.S. Census Bureau)
$D:^R%3C"?7<&'7!(&)
$2rC#,4N $%4t%#
G'rC4t/`^<#=7bP$">' Y!?7<
 &'7!)7$S?7<@G"$@

,#$ !KLLK$/[6&e?7<1LLNijk"1KLLNijkD
$1OLLNijk$G.&5,:}&5~r6(4N<7)/[<3 =7
KLLK?7<&'7!J)$!7 C HKL=7
/W=7KLO"?7<&'7!J)<674N
<7)U C HOL=7l!$?/#=7KLLK$=7KLO?7<
&'7!J&))=#LO"LxNijk^Ob"Nijk"
12
9C'O.z[r\7!XIK//YYrC4tJ)
bP1KLM,^;&){/d I6(6:rC4t4tJ
)6r/[%3%?7<&'7!)
)'),C$6 46J/
Y!?7<&'7!)= &$2%
6$S^*$G4J0 do/0%:&h
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7 &h/
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$&5;Y?; +4 Ih;#bP$/
Bảng 2.1: Tình hình xuất nhập khẩu & cán cân thương mại của Mỹ với Trung
Quốc từ 1985 đến tháng 04/2014
WVUijk
Năm
Xuất
khẩu
Nhập
khẩu
Cán cân
thương
mại
Tổng

kim
ngạch
song
phương
+/-%
Xuất
khẩu
+/-%
Nhập
khẩu
+/-%
Cán
cân
thương
mại
%
Xuất
khẩu/
Tổng
kim
ngạch
%
Nhập
khẩu/
Tổng
kim
ngạch
1985 ObPP/ Obx/ (6) /M
M/x
y

PL/LMy
1986 OLx/O M (1,665) b/O 1/MMy KO/PPy KxMPy
O/MO
y
xL/Py
1987 OM/O xKO/x (2,796) L/ K/Py O/y x/by OP/Ky xM/Kby
1988 PLK/x bPL/ (3,489) OPOK/P MO/Py OP/KOy KM/by O/y xK/by
1989 PPP/M b/ (6,234) MP/ M/xy ML/by b/xy OK/MOy x/Py
1990 MbLx/M PKO/M (10,431) KLLMO/b 1x/My K/Ly x/OKy KO/by x/LKy
1991 xKb/K bx/K (12,691) KPKM/M OL/xKy KM/My K/xy KM/by P/Oy
1992 Mb/P KPK/P (18,309) OOMx b/xy OP/xOy MM/Ky KK/Oby /xKy
1993 bxK/ OPO/ (22,777) MLOLK/b b/Ky KK/Py KM/MLy K/My b/Kxy
1994 Kb/ Obbx/b (29,505) MbLxb/P P/Ky KK/by K/PMy /Oy bL/xy
1995 PO/ MPPMO/K (33,790) PKx/ Kx/xOy /MKy M/PKy KL/Py /My
1996 K/x PPK/b (39,520) xOPLP/M K/LOy O/y x/xy b/bby b/Ky
1997 KbxK/K xKPP/ (49,696) PM/ /KPy K/MMy KP/Py /LPy bK/Py
1998 MKM/K xb/x (56,927) bPML/b L/Ky O/xy M/PPy x/xy bO/OOy
1999 O/ bbb/K (68,677) Mb/O 1/My M/Ky KL/xMy O/bKy bx/by
2000 xbP/K LLLb/ (83,833) xKLO/M KO/MPy KK/Ky KK/Ly O/Oy bx/Ly
13
K
2001 "bK LK"Kb (83,096) K"Mx b/PKy K/Kxy 1L/bby P/y bM/Ky
2002 KK"Kb KP"O
(103,065
)
M"OKL P/OPy KK/MLy KM/LOy P/LKy bM/by
2003 Kb"Oxb PK"MOx
(124,068
)
bL"bLM Kb/KLy K/xy KL/Oby P/xy bM/Oy

2004 OM"MKb x"xbK
(162,254
)
KO"L K/Oxy K/LOy OL/by
M/L
y
bP/Ly
2005 M"K KMO"ML
(202,278
)
KbM"xxK /xPy KO/y KM/xy
M/M
y
bP/POy
2006 PO"xO Kb"M
(234,101
)
OM"MM OL/OLy b/KLy P/Oy P/Ky bM/Kby
2007 xK"O OK"MMO
(258,506
)
ObM"ObL /Kxy /Ly L/MKy x/Oy bO/xOy
2008 x"OO OO"O
(268,040
)
ML"PLP L/bLy P/Lby O/xy /y bK/by
2009 x"M Kx"OM
(226,877
)
OxP"b 1L/OMy 1K/Kxy 1P/Oxy b/y b/Ly

2010 " OxM"PO
(273,042
)
MPx"bxM OK/KPy KO/My KL/OPy KL/Ky /bby
2011 LM"KK O"O
(295,250
)
PLO"MO O/Ky /MOy b/Oy KL/xby /OKy
2012 L"Px MKP"xKx
(315,111
)
POx"MK x/My x/Py x/Oy KL/xy /Oy
2013 K"Ox MML"MMb
(318,711
)
PxK"bM L/Py O/Mby /My K/xPy b/OPy
Apr-14 ML"L Ox"MbL (96,389) x"PK KK/y /Ky
zNguồn: The U.S. Census Bureau{
#,I+^RC…$S=6:rC4tJ+
 $ !#bx1KLLP.)$GC'$S=6:
4t#J"$@,G=7G6:4t%$S=^
KLy/[$G>Y$2$tN84t T47!rC
4tJ)#74 IPLy =7bP=^rCra
bPy $ !1KLLP/#=7KLLx$"7@;A$2%GŽ*
$t7! !$SrC4t^; 6:4tB<=7
N8  'CrC4tJ)zrCrabLy{^7
$S?7<&'7!B<l^@G/
7<S7}S+~",T+BJKG
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14

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J6+It7+s;<G+ $S6:46C…7$6
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J+It7+s;<4 %6:=)"C%6:
 >S3$T&'634J/Xl"
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 !$SrC4tJ +,4N"A)6?>
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&'$C/ 4$%"!7S^<)"&h;?%4I=
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,^,I SrC4tJ>;YN6
$Dkl7Ch D;*(ijk;D; $#rC+^ G
=7G/z&)rC+^{>-}Y@~6$Dkl7C
^R %•'&'$+ )%J/$%
R6rC4t&l5h%5!'EG6+
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 :&h=}^$C~/#$%;B$?7
<&'7!J$)l^@G'/
 "B;Y7S+ !$S&'7!4>
>,……7!4t 6# 4$t7!rC4t+
/[E!6 I&'7!$.&"+6>z+s;<>
"4 &)/ƒ{",666"ƒw%.7=?7<
&'7!J/
2.2. Vấn đề tỷ giá trong quan hệ kinh tế Mỹ - Trung

K/K//dlDJC$G
2 4`\ ;"]m[ \\\X\\;+[ ’]"€ \c’’+"61LKLO
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;?zk{\ $Dijk"!7S.3&h; ;*4>
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+*$%"C$GN6$Dk$267Iˆ;'&h
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}W! 7,!=7OM~$&5>,l62+IrC,!"(
&h?+g 4?6*:4>#=J`^
7(&h44!76/k*$2,SXS7
7S&5),!$3$t6,!= /[67$2?7SI78
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4 4 ;*(,!J,:,>4_,^)&)"D
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$./&G7@:">!4>%4I=$3$T/
6L=7OP"W!+!1c’\;j•\I,6 )>
 \…"&)$,_$S,I:,!+F,6;*(,! 
 ,6;*($%^:&h)/[C4 XS&l
4$%ˆ>0k\r\m\CJS"&)$G4
I$&7S747$>,^A%5UXI $I7$Dk
\ \ $Dijk/
WG--}^,I6&5~)Y,-J&)1
"&7<$$GU$G$3$Dijk/VC$GJ
^OL4N&)$%"$+&'7!J$G 6,…$D

XIc/d$%"$DXIc$7C6+ )$Dijk"w7 $D
k7C6\ /V\ $Dk\ $Dijk$D9?6$DS
J"%rC4t+F%+!'/[w&,?
h"4$%w4>7&5,S/
16
[  A"  4  T    R$%  C  "  *  XS  &l    
 \C$G:#/^ 7LL
 \,!"XS&l \a$Df77Ss/_$&5 
C/[*XS&l \B -…+F%3*_
&'*)c$3$TC$S\ $D?;? $D,Ic/
W6POx"$!+d/v/[\J!$G:7^7,!
*XS&l^<G…$D?;?$7C6$R
\ &)J$D,Ic/V)(hF%34XS&l
7†\\H"*XS&l \C7!
&).}?6~$D?;?/“[\C7;
\ $D?;? $D,I"&>#4$%$2D!
\  $D,Ic/[*XS&lA$2$DfG_
7^7P \,!" !$S7$&5* #6 $
6O/[4>$&5>,/
“[\+j7\"&5:+,\Š” 4, ?>I$
$S\ N6 $Dijk"7S.($\;86;<!!$)
$D?;?4>?67!/
[A)&5:+`;+\†7"=7KLLx>I…7S 
(^-J&'7!*; N66$DG^$&5IT/W37
(6 !$:+6^OL8$G^
.$Dijk/
(Nguồn: Bản tin Công ty Cổ phần Chứng khoán TP. HCM)
K/K/K/`f; ! ^+*=EGC$GN61U
 Theo quan điểm của Trung Quốc:
[68I4 …C%,f; )U

•C"Y#7<^-!"a.^$4 !J
; [Gn,7$&=C$>47!rC4t HP=7
)"w&+*<S $S rC4t 6Y<DJG4
"Y$2%3C6468J?+g)
17
":&hG4I=l$37$rC4t)CJ%"
^.=6$D?;?CŒ/
•"A)+ 6J4 ." +?7<4T
DJw&NC &)"4CG&h !G
4 I67% /S7@&h !
,ChI7,)&5-7(6+F! $HC>C)$)G4
/@46w !+*=67-7( 
+F4 +*<SJ =/V?+g
$3$D?;?=6"4 6:67% 
–l7$S)"l,6&58$3I7,)5./
•,"$D?;?$\ &'&)**; 3
$Tl$DG8"$G4>a4 .J
$)$D$>I77!"746G&)%47!7;:)
)" $%, D7cj‚c"XI"0"; 
G ;:&'7!$&5 6,…$D?;?" ^I7,)+*
S $D$>"#$%4 $::J$D$>"*w
$::,6J .J:+*$\;8^78/VY"$7@)
Ž;?"4^YC$GN6$D?;?"g
=6$D?;?"?+g$)$D?;?",I $::$DG
J$D$>"%3%+**8CJ/
•&"&^4T)"[J: j\
z[>;:< ."%<+l!\Š” 4{4*?uj\\
j/p #%XS+l;9$&}X6 6 N6~J…7
 $D?;?J7$3 %7S>< 6
667/[=)CJ,6 6 4 %3<J

HJJ?+*7C?,…  ./d>^
4, D7Ij\\j/p $GaŒN;*(6CJ
^?8;B$7C?,…4 ."CI&)=
,I4>%;*(/=7KLL"a^J$66;*( &)J1N
:;*(;?z+ +6:47!;*(;?);?{"
I7r7CC :+s"?7K"Py/
18
(Nguồn: Tài liệu luận văn, năm 2011)
 Theo quan điểm của Mỹ:
•C" …>Y$:6$DkC'+
)6:*J%$3&l5 rC4t%+/S
;&)hTX+w$2#^.X-d=a6$Dk/#
6KLLP$$.=7KLLb"w$2%$Gaa6$DGJ
7YTS^$&5KLy+ )$Dijk/
&"$Dijk!7C6S+ 64)=7KLLb$24
X-d\ $Dk $DG)a6C$3;ArC4t7$S
*=&l/VC$G!?4%4= 7S&)$.$t7!
rC4t!+^/,:+^'bLLaijk@C)
/aCll7C U"by/
 >$`^,$.=7KLL"Tn,7>,6 4 !
=rC4tC$># $KLP"…7! ^7K7 &h
;?/&"rC4t+Fl7S7<^(J: !
/
•".=+g$3646J6s
 6/KLL=7&)%4o,.s^6:+9I_…8
?7)7J&h;?G5; /
[ ^"I66$G7?+!J
=#4I=!J,…+CC/WG$&5
R$t,lWIk?J>%J&',I S7;:; +gJ6
$ $Dh R$,:C"8w.IJ#6/

•,"7?6*7!'$)$Dk45A7S !
6+6 ! 46$3=&hI&lW>7u"4G7
/ >;!•; \+"Tn,7$t7!r?;*
7S4**; 7;:4*6XYk&'$3!"I&l)
0$:7;:*; (cj‚c/
;<h'"^f; rC4t$37l&5, ?
3 !$:.$?&J=&h)6
19
&)W>7uM&) &*+>\4 ,6w4 W` ///
pŒ($G^+F?,C5?; "+*>+;.
G:41:J h)$G%3;*$ 6/
(Nguồn: CafeF.vn)
2.3. Bình luận vấn đề: “Mỹ nói Trung Quốc phá giá đồng nội tệ còn Trung Quốc thì
nói không. Mỹ yêu cầu Trung Quốc nới lỏng kiểm soát tỷ giá”
Quan hệ thương mại Trung – Mỹ và áp lực lên tỷ giá đồng nhân dân tệ
0C$GN6($D?;?zk{$D$>zijk{$
7?7)C &'7!1/
!+ !%$:•[R2Y!&'7!J
#$ !KLLL)KLO/
!$6&'7!)Cw"47!rC
4t)4>#=6=7"$A)$%C$G?7<&'
7!))/
Hình 2.2: Cán cân thương mại dịch vụ Mỹ - Trung giai đoạn 2000 - 2013
zNguồn: The U.S. Bureau of Economic Analysis (BEA{
[RC6?&'7!;:<J)>@;&
6=7"=7KLLL"@;&4 Ib/NijkY$=7KLO
 +@;&^$KP/OMNijk=.KxLy/V +@;&=7
KLOJ7xKy T+?7<&'7!;:<T3
JzKP/OMN+ ) +?7<Mx/ONijk?7<J{/
^RC7S+*4>T C$G?7<&'7!(

"#=7KLLLˆKLO"^<?7<6?&'7!;:<
)"T+?7< $ !^)K"bPPNijk"!+  7Sh
20
;&76?&'7!;:<(B4>?,…
! @I7+*?7<"$G%7?BYG+*$G 
&'7!(6•
B$&5 >r&lJ)",l47S&h7
Y$%^$C7$&57#z&hrC4t{"&h,6$%$2
7+It7#7SrC4tII,…$Dijk/
rC4tGijk"$3<+IrC"%33+ijk 
4 I @,6ijk 6? &)/k 6? &)+F
#ijk&&5k&')+ijk$%/VY"6?,6
+ijk;& ?&'zvX [{$37^7k/
S46?&'7!;:<(?,…Y4>
%C$GY/^47S,:?7<^<7S@;&
^<&Y!I+C$G/
W)&)rC+^&Y+F%6Gijk$ 
'ijk$/VY"vX [-7(7S+&5ijk#2/V)
&'7! $T !"8.I,6+ijk;&#^:
&h !€ \rz€ \‚r\{7 k/^$G+F
4 $DijkI767$Dk=6/S4$Dk=6+
)$Dijk+F4 %l^$-$_'l:&h"Y
7I7rC4tJ"+F7I7?7<66?&'
7!;:<"$?$G74>7 $ !#/
k "$3 64_Y!%+6&5^ 7Y/vX [
C+ijk@;&H%,…677S+I,…$Dijk"
+I&hr^C$%7S !><$.&$&5&l2+C6
,…$DijkY6J !+I7
-7$$.^/V7$2=@$Dk=6/V$Gw.
)rsf@;&)JXI…7T$:N6%5 7Y/

Hình 2.3: Nợ trái phiếu chính phủ của Mỹ với Trung Quốc và Nhật Bản
21
(Nguồn: US Treasury)
k&56JJ4>#=6=7"=7
KLLb.$.^&5XI$3lJ5)CJ/W
=7KLO;&56JJ"KLNijk C
 +6J5J4 IK/KyT;&56JJ
/
&"vX [$2+s;<($Dijk@;&$376J
84>7k#:&h !$3Ck,6! ?
 &)J6rC4t/^6? &)BI7
ijk#64tvX [B7ijk#6?&'7!"
w$D9)vX [+F,'7?;? G4/
k ">$S"vX [$27=?;? :
&h/dG=+F;B)!76= ,l%GG'$T
\ +&5%C$:/
>7(6kl7C$3%5  !$SrC4t"
7$3;YT$:N6vX [I=G/`&5G$27
 + !!76= /
d>H6Y46"6'&)I=&'3
>?"7$?!4 I6>$& 6+It7/Xl"
+F;B)7S76 ';A+IrC ^;AS$:rC4t/j$%
+*=6!+F7 &h^;^:
'/6Y+F< $4?7<&'7!$&5$Ga?
,…l!
&%3C"?7<!>$&5$e,l6G7
J6?&'/[6?$(
64 I5Jz6J{)', h$-
$e7S67‡&e/
22

Và điều chỉnh tỷ giá trước áp lực của Mỹ và các quốc gia khác
 7S$ !;.L=7N6ijkpX.&$:l7
b/KpX=ijk"$6KLLP.$.*I6N6
$ 6+L=7"\ $%N6,-$.,$S7S.\ r&):&h"N
6ijkpX#b/K=7KLLP,-$.I7r6=7\ "$(=7
KLLbN6H4 Ix/Pijk”.&T$:)(=7KLL"+$%N
6ijk”%r&)<I7"$=7KLON6ijk”H
4 Ix/P
Hình 2.4 Tỷ giá USD/RMB giai đoạn 1993 - 2013
(Nguồn: World Bank)
 $ !#+4$GaN6 6KLLP$2%,
.)S,^$SN6".$.^KLPKLL#7L/Oy^L/Py".K
 MLMKLK#L/Py^y..$?CPLOKLM4vX [
^,)S,^$S; $SN6$ 6($D?;?+ )$D
ijk#O",^$S $S6 ;:$Dk)$Dijk^:
&h !^?+F)S#y^Ky/[R%37S
$G7lSJ,^$S7! 7S'S$3I7+*
JvX [ g:&h$%7SH)' r6$:N6/V
$?%37S;C7 I_437+ 6N6$ 6J
 h))8$Dk+F$&5IG)6:5J%.
 RI7$&5?7<&'7!)+ )/
Kết luận:V%66$Dk  %'+l"
66k 7Sh;$27!7S5C) 
 &'7!))@;&&'7! /^
$3k4>$\ :&hw7SJ   
$7@(+6#!#"($S6.$?>
7lS,^$S; $SJk%3r\77S$S6*J
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 +6N6"^BH7S@$&h;&)$3
$!$&5$D C +6N6J/

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