Alarmed by the persistent and large US trade deficit vis-à-vis China and the rapidly swelling Chinese foreign exchange reserves, influential US policymakers are urging the Chinese authorities to allow a substantial appreciation of the Renminbi (RMB). This paper establishes that the arguments...

The rise of the renminbi (RMB) as a key currency in international financial markets has been fast. It reflects China's general expansion in the "real" world economy, and its accumulation of official foreign exchange reserves. There is no doubt that the role of the RMB for the global economy will...

This article reviews the main technical and policy problems which the implementation of two formats of comprehensive solutions, discussed in the recent report by the Commission on Company Taxation in the Internal market would require. Both approaches imply the consolidation within the EU of net...