appreciating. It is not just China that is resorting to this strategy; other countries have been much more active in bearing down … on the exchange rate. How can the countries in the area maintain the stability of their exchange rates? As China is …

usage of the yuan. Finally, it examines the prerequisites of an international currency, and compares China’s structural …

, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s" dominance hypothesis", i.e. whether the … global financial crisis. These results are consistent with China’s dominance hypothesis and with the view that the … international monetary system is already tri-polar. However, we also find that China’s currency movements are to some extent …