Evolution of the exchange regime in the reform era : the transition to an equilibrium exchange rate : developments since mid-2005 -- Policy challenges under the existing currency regime : independence of monetary policy : rebalancing economic growth : potential effects on the banking system :...

"This is the first book to collect academic studies examining issues related to the potential internationalization of the remninbi. It considers polisy implications, documents the rising regional importance of the renminbi and discusses key issues in the increasing use of the renminbi in...

Introduction -- The global economy and external imbalances -- Global imbalances and exchange rates -- External imbalances and national income -- International capital mobility and national income -- External imbalances, exchange rates, and interest rates -- Money, exchange rates, and the balance...