type="main" <p>The People's Bank of China's (PBoC) balance sheet expanded more dramatically than any of its major international counterparts during the past decade. The main contribution to this expansion was the rapid accumulation of the central bank's foreign assets, as a result of foreign...</p>

The global currency system is likely to change significantly after the global financial crisis, but decline of the U.S. dollar may be a gradual process. These would impact the Peoples Republic of Chinas (PRC) renminbi policy, which, in turn, may generate feedbacks on the global system. The PRC...