Zhang, Bin; He, Fan - In: China & World Economy 15 (2007) 1, pp. 62-76
Pegging the RMB exchange rate to the Asian currency unit (ACU) has not, at least in the short term, been proved a better solution than pegging to the US dollar or pegging to a G-3 (US$, Japanese yen and euro) currency basket. Although the Asian currency unit can help Asian economies to keep the...