Abstract
China’s currency, the renminbi (RMB), has occupied a central role in the debate over the sources of global imbalances. As policymakers around the globe seek to establish the foundation for a sustained recovery from the world’s most serious financial crisis in over 70 years, the pressure on the Chinese currency regime continues to mount. Nevertheless, there appears little consensus regarding the extent to which the RMB is actually undervalued despite the fact that the issue has been intensely contested for several years. In reviewing the debate, the current paper points to some pitfalls in assessing the extent of the RMB misalignment. In addition, we elucidate the sources of disagreements while updating the misalignment estimates by exploiting the latest set of data.
| Original language | English |
|---|---|
| Title of host publication | China and Asia in the Global Economy |
| Publisher | World Scientific Publishing Co. Pte Ltd |
| Pages | 155-187 |
| ISBN (Print) | 9789814335270, 9814335266, 9789814335263 |
| DOIs | |
| Publication status | Published - 1 Jan 2011 |
| Externally published | Yes |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 10 Reduced Inequalities
Research Keywords
- Absolute purchasing power parity
- China
- Currency misalignment
- Exchange rates
- Real income
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