The author of this book is the original proponent of China's exchange rate system reform announced in 2005. This book … discusses: * The transitional, medium-term and long-term designs of the reform * China's achievements and mistakes on the reform … * China's banking reform and its lessons to other emerging economies * Maintaining a certain trade surplus as a dynamically …

System Reform -- Chapter 1 Macroeconomic Conditions and Debates Before the Reform -- 1.1 Macroeconomic Conditions Before the … Reform -- 1.1.1 The Beginning of China's Persistent Trade Surplus -- 1.1.2 The Asian Financial Crisis: The Beginning of the … Performance Before the Reform -- 1.2 Debate Before the Reform: Risk of Various Proposals -- Chapter 2 Transitional and Medium …