Evolution of the exchange regime in the reform era : the transition to an equilibrium exchange rate : developments since mid-2005 -- Policy challenges under the existing currency regime : independence of monetary policy : rebalancing economic growth : potential effects on the banking system :...

This paper argues that the way in which China is portrayed in the revived Bretton Woods thesis (BW2) is not consistent with several important trends in, and features of, the Chinese economy; nor does the strategy in the BW2 seem sensible for China's long-term economic development. Whether it is...

Cover -- Contents -- Preface -- Acknowledgments -- Introduction -- Chapter 1 Evolution of China's Exchange Rate Regime in the Reform Era -- Transition to an Equilibrium Exchange Rate -- Developments since Mid-2005 -- Chapter 2 Challenges Facing the Chinese Authorities under the Existing Currency...