In this paper the author argues that China's exchange rate policy is seriously flawed given its current macroeconomic …-valued; (ii) China has been "manipulating" its currency, contrary to the IMF rules of the game; (iii) it is in China's own … interest, as well as in the interest of the international community, for China to initiate an appreciation of the RMB soon; and …

The paper focuses on China's onshore bond market and the drivers of non-resident net portfolio flows into Chinese debt … bond flows into China, static and time-varying models are estimated to explain the importance of various push and pull … factors in the context of China's bond market development. While China-specific pull factors, such as domestic economic growth …

Enormous trade surpluses are problematic for the People's Republic of China (PRC) and the rest of the world. They … primarily stem from processing trade. This paper investigates how exchange rate changes would affect the PRC's imports for … reduce the PRC's surplus in processing trade, while an appreciation of the yuan alone might not. Even for an appreciation …

veer out of control frequently and overheat the economy. China’s persistent trade surplus is fundamentally linked to the …Just when China’s leaders receive conflicting signals of “overheating” and “below-potential growth”, they encounter … challenges have their roots in China’s inadequate marketization and continued discrimination against the domestic private sector …

Given that the value of China’s currency has been hot topic recently, this paper explores the equilibrium levels of … China’s real and nominal exchange rates. Employing a Johansen cointegration framework, we focus on the behavioral …

This paper attempts to assess how compatible China is with respect to its dollar-based exchange rate regime. Assessment … endogenous problem in OCA analysis and this view of convergence criteria, the relevant features of China are evaluated against … conditions in China broadly conform to those prevailing in these economies which maintain strong links to the US dollar. …

In recent years China has experienced two forms of extreme macroeconomic imbalance: an expenditure imbalance in the …; risk of capital loss on the foreign exchange holdings; and the threat of retaliation by China's trading partners. A …

This working paper assesses the progress made in improving China’s exchange rate policies over the past five years … (that is, since 2002). I first discuss four indicators of progress on China’s external imbalance and its exchange rate … policies—namely, the change in (and level of) China’s global current account position, movements in the real effective exchange …