The United States and the PRC: Macroeconomic Imbalances and Economic Diplomacy

Philip Levy

No 328, ADBI Working Papers from Asian Development Bank Institute

Abstract: The People’s Republic of China (PRC)’s current account surplus, its growing foreign exchange reserves, and its shifting policies on exchange rate adjustment have become a central preoccupation of United States (US) trade policy. The paper considers the evolving political economy of the US policy stance and of the PRC’s response; it assesses the opportunity costs of an approach that has sometimes focused on the exchange rate to the exclusion of other issues; and it explores the ramifications for economic governance in the short- and medium-run.

Keywords: macroeconomic imbalances; exchange rate adjustment; prc; united states; exchange rate adjustment (search for similar items in EconPapers)
JEL-codes: F14 F23 F31 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2011-12-02
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Related works:
Working Paper: The United States and the PRC: Macroeconomic Imbalances and Economic Diplomacy (2011)
Working Paper: The United States and the PRC: Macroeconomic Imbalances and Economic Diplomacy (2011)
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