This paper reviews and critically comments on the policy debate surrounding China's exchange rate regime. There are presently two key issues - firstly, whether the RMB has become significantly undervalued, and secondly, whether China would benefit from adopting a flexible exchange rate regime....

Banking industry liberalization in China has gained pace. The theoretical underpinning of this policy approach is the McKinnon-Shaw hypothesis, which contends that a liberalized financial sector will maximize the quantity of deposits mobilized and optimize the efficiency with which these funds...

China's economic growth rates since reforms were introduced in 1979 have been impressive. In the past six years, for example, China's annual average growth rate was 9%. In the real estate sector, investment revenues increased by an average of 27% in each year. However, a recent People's Bank of...

In 2020 Australia’s political relations with China plumbed new depths. Trade and other economic ties were also hit with disruption. Contributing to this deterioration, and complicating an accurate assessment of the consequences, has been a raft of misunderstandings. This paper demystifies the...

As Australia’s economic exposure to China has grown, so too has the perception of risk thisbrings. In turn, this has led to calls for public policy to be used to cut the exposure. This paperbegins by clarifying that exposure to China creates three distinct risks for Australia: a Chinesegrowth...

Australia's exports to the People's Republic of China (PRC) are being recast in terms of risk rather than opportunity. Exposure to the PRC market is seen as providing Beijing with coercive leverage that can erode sovereign decision-making in Canberra. Further, because this trade is mostly...

This book is a comprehensive, balanced and realistic assessment of China's financial reform program and future direction. Covering not only the banking sector but also non-bank financial institutions, stock market development and external financial liberalization, the authors examine the impact...

China’s path to emerging as the world’s second largest economy has not been a smooth one. This paper considers whether the volatility of growth has had an impact on the trend rate of growth. In doing so it aims to promote a better understanding of the determinants of China’s impressive...

This book is a comprehensive, balanced and realistic assessment of China’s financial reform program and future direction. Covering not only the banking sector but also non-bank financial institutions, stock market development and external financial liberalization, the authors examine the...