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n　say　that　its　a　spiracy　to　sacrifice　a’s　ey　without　bringing　bes　to　the　global　ey.　But　those　strong　words　against　the　revaluation　of　RMB　were　more　or　less　for　internal　politics.　The　goverhen　began　to　boost　the　imports　to　ease　the　pressure　on　the　currency.

    Domestically，　there　are　more　and　more　criticisms　against　the　stimuting－export　policies，　especially　the　tax　reimbursement　policy.　The　tax　reimbursement　to　exporters　has　aggravated　the　fiscal　deficit　of　the　tral　gover.　The　gover　has　paid　125　billion　RMB　and　115　billion　RMB　for　tax　reimbursement.　This　appropriation　was　far　from　the　amount　incurred　every　year　and　up　to　the　end　of　2003，　the　tax　reimbursement　in　arrears　reached　to