Huang, Hui; Wang, Yiming; Wang, Yi; Whalley, John; … - 2021
analysis provides an intellectual counter argument to those presently advocating a free Renminbi float for China …. We suggest this model has relevance to the current situation in China where services remain unliberalized and tariff … rates are bound in the WTO. Since there is an optimal exchange rate, a move to a free Renminbi float can be welfare …