Alarmed by the persistent and large US trade deficit vis-à-vis China and the rapidly swelling Chinese foreign exchange … (RMB). This paper establishes that the arguments advanced to this effect are quite weak, as they overlook salient features … of the present international economy and of China's financial system. Indeed, the record growth of China's exports to the …

Over-estimated trade surplus -- On trade surplus from property rights -- Describing China's economic scale -- Foreign … and path of RMB appreciation -- Economic sanctions and free trade -- The debate is far from over …

This paper analyzed the role of processing trade in China's bilateral trade balances and the impact of the yuan …'s appreciation on processing trade. The analysis is based on a panel data covering China's 51 major trading partners from 1993 …-2008. The empirical analysis shows that: (1) processing trade accounted for 100% of China's overall trade surplus and could …

This paper scrutinises the state of RMB internationalisation and its likely progress over the coming years and … discusses its implications for currency co-operation in East Asia. As part of its internationalisation, the RMB is gradually …. But instead of a replacing of the dollar standard with an RMB standard we are likely to see some rather loose and informal …