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Chapter 7: An Analysis of RMB Pricing Power of Commodities in China (Shanghai) Free Trade Zone1

    1This chapter incorporates the research of “Analysis of cross-border RMB settlement based on exchange rate variation” supported by Ministry of Education.

    https://doi.org/10.1142/9781938134777_0007Cited by:0 (Source: Crossref)
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    Abstract:

    According to 2011 BP Statistical Review of World Energy, China consumes 40% of metal, 20% of energy and 21% of agricultural products worldwide. However, always acting as a price taker because of an unfavorable position in the world commodity pricing system, China has to absorb huge economic losses by buying at a price that is too high, especially in energy and raw materials market. With the aim of safeguarding its economic interests, China must strive for the international pricing power…