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The People's Republic of China has a dual local currency system. The common currency for the Chinese is the >i>renminbi>/i> (RMB). Foreigners are expected to use the Foreign Exchange Certificate (FEC). The FECs were introduced on April 1, 1980.
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Since 1949, the People's Republic of China has been on a roller coaster of economic policies. The economic failure of the Mao era encouraged a new attempt, identified as "economic reforms," to divorce the system from its economic policies.
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After being awarded a Fulbright grant to teach economics in the American Studies Center of Shanghai International Studies University, Shanghai, People's Republic of China, I wondered what additional activities I should undertake. "China in transition" is a heaven to explore because of the...
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After being awarded a Fulbright grant to teach economics in the American Studies Center of Shanghai International Studies University, Shanghai, People's Republic of China, I wondered what additional activities I should undertake. "China in transition" is a heaven to explore because of the...
Persistent link: https://www.econbiz.de/10008754822