Abstract
The Federal Reserve and the European Federal Reserve enacted monetary measures to ameliorate the economic crisis as a result of COVID-19. China's import and export commerce will be impacted by the consequent exchange rate adjustments. The data used for this article includes changes in exchange rates, imports, and exports before and during the outbreak. It also examines the impacts of policy, import and export regulations, transportation costs, and other factors of exports on imports and exports. Additionally, it checks to see whether contractual effects cause J-curves in the short- and long-term for changes in currency rates and import/export movements. This paper provides empirical experience for the changes in imports and exports caused by the CNY exchange rate policy in the future based on the analysis of China's import and export data in these two regions caused by changes in exchange rates of Europe and US dollar against CNY over past 12 years.
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