Challenges Facing the Chinese Authorities under the Existing Currency Regime

Morris Goldstein and Nicholas Lardy

Chapter 21 in Trade, Currencies, and Finance, 2017, pp 677-750 from World Scientific Publishing Co. Pte. Ltd.

Abstract: An equilibrium exchange rate for the renminbi can be measured in a number of ways. It could be the exchange rate that produces a “balance” in China’s global current account position (i.e., in the sum of trade transactions, investment income, and transfers). It could be the exchange rate that produces a “balance” in its basic balance of payments (i.e., the sum of the current account and longterm capital flows). Or it could be the exchange rate that results in a balance in China’s overall balance of payments position (i.e., the sum of the current and capital accounts).

Keywords: Trade; Currencies; Finance; IMF; Financial Regulation; Trade Elasticities; China (search for similar items in EconPapers)
Date: 2017
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