Exchange Rate Undervaluation and Growth in China

Vladimir Popov and Kwame Sundaram Jomo ()
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Kwame Sundaram Jomo: Khazanah Research Institute

Development, 2020, vol. 63, issue 1, 120-125

Abstract: Abstract The widely held belief that China’s undervalued exchange rate has been crucial to its rapid industrialization and economic growth over the last four decades is critically qualified and nuanced. In any case, renminbi (RMB) appreciation, rising wages with exhaustion of its labour surplus, growing domestic demand and slowing international trade and growth following the 2008 global financial crisis have reduced China’s economic growth.

Keywords: Chinese exchange rate; Chinese competitiveness; Chinese growth; China–US relations (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1057/s41301-020-00248-y

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