dependent, suggest that the impacts of Renminbi (RMB) revaluation on the surplus are proportionally larger than on trade flows …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 …

China in the coming years. China had been a prime example of exported growth, benefiting from learning by doing, and by …, and the Global Financial Crisis forced China toward rebalancing, which is a work in progress. Reflecting on the …

with the undervaluation of renminbi (RMB). But the Chinese Government hesitates to allow RMB to appreciate because of the … worry that RMB appreciations are contractionary thus have negative impact on China's economic growth and employment. The … purpose of this paper is to empirically assess the effects of RMB real exchange rate on China's output. The econometric …

China's VAT while seemingly conventional has two major impurities. One is that a separate export rebate system exists … reduced surplus is welfare improving. Using 2002 data, we thus find that China's impure VAT system yields welfare gains in … outside China for changes to be made and move closer to a pure VAT. Our results suggest that unless there are wider changes …

implications of Renminbi (RMB) real exchange rate appreciation for adjustments in employment and wage rates. We stress differences …

Previous studies have focused on when the renminbi will play a significant role as an international currency, but less … attention has been paid to where. We fill this gap by contrasting two answers to the question. One is that the renminbi will … assume the role of a global currency similar to the U.S. dollar. Supporters point to China's widely diversified trade and …

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 …

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 …