China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial … could attract even more hot money inflows, the People's Bank of China should focus on tightly stabilizing the yuan/ dollar … exchange rate to encourage naturally high wage increases for balancing China's international competitiveness. …

potentially subsidized capital allocation in China the real yuan/dollar rate is undervalued. This has caused - both in China and …-American policy coordination to escape from the policy dilemma, which continues to drive global imbalances. -- China ; exchange rate …