Gu, Xinhua - In: Frontiers of Economics in China 5 (2010) 4, pp. 604-621
The prolonged RMB appreciation affects Macao deeply and requires a major monetary reform without further delay. What we … propose for Macao reform as an optimal choice includes shifting its monetary anchor to the strong RMB, revaluing its domestic … currency to the original level, and setting up a sovereign wealth fund for autonomous growth. This proposal is based on Macao …