This paper assesses whether the international monetary system is already tri-polar and centred around the US dollar, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s" dominance hypothesis", i.e. whether the renminbi is already the dominant currency in Asia, exerting...

This paper assesses whether the international monetary system is already tripolar and centred around the US dollar, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi is already the dominant currency in Asia,...

China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de...

Starting with the framework of New Institutional Economics, this Comment examines the institutional arrangements of Chinese and U.S. governance, and then scrutinizes their respective policy responses to the financial collapse of 2008. The latent thesis is that, notwithstanding differences in...

How does a shifting economic power balance between the United States and China affect the strategic choices of Latin American governments? During the last several decades, Latin America has often relied on a Western development model that aimed to attract global market capital. After excessive...

How does a shifting economic power balance between the United States and China affect the strategic choices of Latin American governments? During the last several decades, Latin America has often relied on a Western development model that aimed to attract global market capital. After excessive...

How does a shifting economic power balance between the United States and China affect the strategic choices of Latin American governments? During the last several decades, Latin America has often relied on a Western development model that aimed to attract global market capital. After excessive...

In this paper, we discuss monetary thought in ancient China from the perspective of Western monetary theory. We set out the structure of economic activity in the various dynasties of ancient China and emphasize the differences in monetary structure from those of Europe and later North America....

This paper discusses the movement of capital flows to and from the exchange rate regimes and monetary policies of China, India, Brazil, and South Africa (CIBS). Furthermore, we compare the level of financial stability, and the composition and duration of capital flows of the countries on a...

Central bank cooperation depends on a few crucial parameters: the extent to which central bankers agree on theory (end means relationships); the extent to which they can agree on goals (social purpose); the capacity (technical and institutional) to achieve their collective goals; and whether the...