, as well as in South Korea and China--two countries on different sides of the trilemma triangle of international finance …. We document that global financial shocks in both China and South Korea explain a substantial share of equity return … than 10 percent in Korea and negligible in the case of China). We also find that the combination of a closer capital …

suggest why public and private actions in the United States and China are now likely to cause the current account imbalances … billion or 3.5 percent of US GDP. China has a current account surplus of about $300 billion or 6 percent of its GDP …

Because China's economic structure is different from that in OECD countries, using conventional neo … fully representative of modern China, but it does go some way beyond simple competitive models used elsewhere and points to … exchange rate have more impact on China's welfare than tariff liberalization. Policies of RMB appreciation and increasing China …

. In the past few years, this issue has moved to center stage because of the foreign exchange policies of China. China has … large global and bilateral trade surpluses. Numerous public officials and commentators argue that China has engaged in … impermissible "currency manipulation," and various proposals for stiff action against China have been advanced …

Given the rapidly growing reserves in Asia (China, Japan, Korea, Taiwan) and the pressures from trading partners to …, and that changes in trade flows can be substantial. Different treatments of China's processing trade have small impact on … changes in China's trade flow under RMB appreciation, but significant impacts on the change in the surplus. Results are …

For China this suggests starting with a modest band widening and a limited increase in flexibility, and not with a …

for China. (1) China's economy is on the overheating side of internal balance, and appreciation would help easy … inflationary pressure. (2) Although foreign exchange reserves are a useful shield against currency crises, by now China's current … economy like China can achieve adjustment in the real exchange rate via flexibility in the nominal exchange rate more easily …

China's exchange rate policy in 2005 and 2010 and data on 6,050 firms in 44 countries. Renminbi appreciation has a positive … effect on firms exporting to China but little positive or even a negative impact on those providing inputs for China …'s processing exports. Stock prices rise for firms competing with China in their home market while falling for firms importing …