Online Review: Why has the RMB depreciated but there is deflation? The continuous depreciation is due to the excessive printing of money, and the deflation is because the printed money has not reached the hands of the people, so goods become cheaper and cheaper. So he asks: What's wrong with deflation? Isn't it better that goods are cheaper? A minister said: When society lies flat, eating and waiting for death, the price of goods can still drop to zero, business becomes silent, and there is no circulation.