The imbalance between China's currency, the RMB, and those of other countries is widely regarded as a major problem for the world economy. There was a reform of China's exchange rate mechanism in 2005, following which the RMB appreciated 17% against the US dollar, but many people argue that...

The China question : can the rise of the Middle Kingdom be accommodated? / Benjamin Cohen -- China and the International Monetary Fund : neglected historical roots and continuities / Eric Helleiner and Bessma Momani -- The politics of foreign reserve accumulation in China / David Steinberg --...

Assessing the stability of the Chinese economy and the nature of its economic governance, this text examines how internationalisation has impacted on financial market development in China and how far this has contributed to the development of new institutions within China

"Until recently the world has been relying on the US dollar and the Euro to lubricate the flow of global trade and finance. A newcomer, the Renminbi (RMB) or Chinese Yuan, joined the global monetary system in 2000. The rise of the RMB is both an indicator and a result of the evolution in the...

Why are there so many crises in the world? Is it true that the global system is today riskier and more dangerous than in past decades? Do we have any tools at our disposal to bring these problems under control, to reduce the global system's proneness to instability? These are the tantalizing...