This paper analyzes the consequences of the internationalization of the Chinese renminbi for the global monetary system … moderate the perceived need for insurance, and China would have to loom large in both solutions. …

, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s" dominance hypothesis", i.e. whether the … renminbi is already the dominant currency in Asia, exerting a large influence on exchange rate and monetary policies in the … global financial crisis. These results are consistent with China’s dominance hypothesis and with the view that the …

This Paper reviews the controversy over China’s exchange rate regime. Placing the issue in the context of the … literature on exit strategies, it argues that now is the best time for China to exit from its peg. Moving to a managed float …

In the face of huge balance of payments surpluses and internal inflationary pressures, China has been in a classic … conflict between internal and external balance under its dollar currency peg. Over the longer term, China’s large, modernizing …

China and its other trading partners manipulate their exchange rates, and (b) the nature of the Chinese exchange rate regime … bilateral deficit, though other variables also turn out to be quite important. On the issue of China's de facto exchange rate …