人民幣低估是否有違WTO 規範一節，目前各家見解甚為分歧，更多之研究投入，不但有助於未來爭端之法律性解決，甚至可能使爭端止息。本計畫對目前爭鳴之百家論點進行交叉比對分析──包括GATT 第十五條、非違反控訴、補貼及傾銷等論點，並以國際法解釋的角度，探索相關WTO 規範之妥適解釋；其次，藉著追蹤美國國內針對人民幣低估之相關可能立法，評估其與上述WTO 規範之合致性，並預測其執行之成效；最後，基於WTO 爭端解決機制之特性、以及WTO 過往處理強權（superpower）間高度爭議性問題之經驗，試析相關爭議訴諸WTO 後之可能演變、對WTO 機構本身之影響、甚至對全球貨幣與貿易體制所可能帶來之衝擊。本研究之完成將得以釐清是否有必要修正WTO 相關條文使其得以處理上述爭議，同時亦可提供國內貨幣主管機關匯率政策的 WTO 適法性參考。 Whether currency undervaluation violates relevant WTO rules is subject to debate, and the more research is devoted to it, the better for the controversy to be resolved, or even prevent disputes. This study cross-examines currently existing arguments, including the analysis of GATT:XV, non-violation complaint, subsidies, and dumping, in order to explore the appropriate interpretation of relevant provisions in accordance with VCLT. Moreover, the study analyzes the relevant U.S. bills targeting currency undervaluation for their WTO-consistency, and predicts their implementing effects. Last, based on the nature of DSB, and the experience of WTO adjudicating body on highly controversial cases between superpowers, this study tries to discuss the possible development when the case is brought to the DSB as well as the potential impact to the WTO bodies and the global monetary and trading systems. This study aims to clarify whether there is a need to amend relevant WTO provisions in order for the WTO to address the trade effect derived from currency undervaluation. It also can provide the monetary authorities reference for the WTO-consistency of its exchange rate policy.