The global currency system is likely to change significantly after the global financial crisis, but decline of the U.S. dollar may be a gradual process. These would impact the Peoples Republic of Chinas (PRC) renminbi policy, which, in turn, may generate feedbacks on the global system. The PRC...

Boosting consumption has been a policy strategy for rebalancing the Chinese economy. The official statistics, however, show persistently declining consumption as a share of GDP during the past decade. In this paper, we provide a more complete picture of Chinese consumption by piecing together...