This paper critically evaluates the policy literature surrounding China's exchange rate regime. It first discusses … several popularly raised contentions in relation to the dollar peg employed by China, which in fact are poorly grounded in … deficit. The paper then describes a consensus position that has emerged which argues that China should abandon the peg in …

This report identifies a set of policy lessons for China today drawn from the experience of financial deregulation … exercise. Based on the Scandinavian experience and the added complexity of China's status as a transition economy, financial …

constitute long-term appreciation expectations on yuan and yen, which have made China and Japan vulnerable to U.S. interest rate … cuts and appreciation expectation shocks. For both China and Japan - at different points of time - self-fulfilling runs …, speculative bubbles and post-bubble secular stagnation. To prevent a similar scenario for China capital controls, a tighter …