The Impact of Western Monetary Policy on China's Marine Business Cycle

Abstract

Wang, H. and Li, Z., 2020. The impact of western monetary policy on China's marine business cycle. In: Li, L. and Huang, X. (eds.), Sustainable Development in Coastal Regions: A Perspective of Environment, Economy, and Technology. Journal of Coastal Research, Special Issue No. 112, pp. 220-223. Coconut Creek (Florida), ISSN 0749-0208.With the gradual increase in the level of China's marine industry opening, the cyclical fluctuation of the marine economy is increasingly affected by external factors. It analyzes the impact of the spillover effects of western monetary policy on China's major marine industries. The empirical test results using the growth rate of Western money supply M2 show ocean economic cyclical fluctuations. The exchange rate of USD to RMB is the standard of the ocean economic cycle index. Ranjie reason. Impulse response function analysis believes that the overall appreciation of the US dollar against the RMB exchange rate is beneficial to the development of China's marine industry.