A piece of news over the weekend: data released by China's National Bureau of Statistics showed that as of November, China's trade surplus exceeded $1 trillion, a record high. Many believe the renminbi should appreciate, including European countries like Germany and the UK, as well as the US, to prevent such behavior.

But I don't think so. I believe the main issue right now isn't the appreciation of the renminbi but improving domestic labor policies, increasing employees' incomes, and enhancing wages and benefits to raise product prices—not simply appreciating the RMB exchange rate.

If we simply rely on cutthroat competition and internal involution to lower product prices, or even use export tax rebates to gain a competitive edge and secure foreign orders, this approach is unsustainable—akin to killing the goose that lays the golden eggs. Moreover, appreciating the RMB exchange rate won't solve the root problem.