L’appréciation du renminbi et l’inégalité des revenus entre la ville et la campagne en Chine

If poverty has been significantly deceased in China during the last twenty years, this decrease was very unequal across the provinces and was accompanied by an increase of the urban and rural per capita income disparity. We studied the impact on this last one of the exchange rate policy, which was marked by a strong real depreciation before 1994, then a certain appreciation followed by a stabilization. We concluded that in the interior provinces where the poverty is the most important, the real appreciation has contributed to reduce the disparity, where the real depreciation has increased it. This result is an argument in favor of a re-evaluation of the renminbi.