Is Devaluation of the Chinese Yuan Inevitable? - The Impact of East Asia's Crisis on China

M. Fan, W. Yi and X.-G. Zhang

No 621, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: The current financial crisis in East ASia has posed serious pressure on China to devaluate its currency. It is argued in this paper that devaluation is not inevitable. This argument is based on an analysis of the impacts of East Asia's crisis on China's trade and foreign capital inflows. China's domestic financial and banking problems are also examined. It is found in this paper that China's recent economic growth is largely driven by internal forces.

Keywords: ASIA; CHINA; DEVALUATION; ECONOMIC GROWTH (search for similar items in EconPapers)
JEL-codes: F31 F32 (search for similar items in EconPapers)
Pages: 16 pages
Date: 1998
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Citations: View citations in EconPapers (3)

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