关键词: 人民币汇率, 相对劳动力价值, 工资, 收入调节

Abstract: The favorable balance in China’s foreign trade and our increasing reserves of foreign currency have turned out to become incentives for a demand that the value of RMB be raised. However, the claim that the need for raising the RMB value lies in the low exchange rate of RMB is not well grounded. Instead, the most crucial cause for this situation has come from the relative low value or price of the Chinese laborers, which in turn gives rise to some direct and indirect effect. Therefore, the right policy is not to change the RMB exchange rate, but to adjust the relative value or price of the laborer.

Key words: exchange rate of RMB, relative value of laborer, salary, adjustment of income