The Impact of Renminbi Appreciation on the World Rice Market
The World Rice Model (WRCM) was developed based on partial equilibrium approach in this paper. An impact of Renminbi (RMB or Chinese Yuan) appreciation scenarios on the world rice market was projected to 2020 by WRCM. The result indicates that RMB appreciation in the short term will lead to a dramatic change in the international rice price index. When RMB appreciation rate is greater than 4%, the international rice price index will continue to rise, and when it is greater than 8%, China will become the largest rice importer in the world.
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