Based on its outward-oriented development strategy, respectable growth, increased integration into world trade and financial markets, and imperfect though vibrant and wide-based democracy, Turkey is often cited as a development model for other countries in the region and elsewhere. Countering...

The international monetary environment -- The foreign exchange market -- International monetary arrangements -- The balance of payments -- International parity conditions -- Forward-looking instruments -- The eurocurrency market -- Exchange rates, interest rates, and interest parity -- Prices...

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...