Download or read book China s Exchange Rate System Reform written by Paul Sau-Leung Yip and published by World Scientific. This book was released on 2011 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author of this book is the original proponent of China''s exchange rate system reform announced in 2005. This book discusses: The transitional, medium-term and long-term designs of the reform; China''s achievements and mistakes on the reform; China''s banking reform and its lessons to other emerging economies; Maintaining a certain trade surplus as a dynamically optimal choice for China; China''s stock market bubble and the gradual bubble squeezing strategy; China''s property inflation and its solution; China''s fiscal and monetary policies during and after the global financial tsunami; Risk of global asset inflation, CPI inflation and cycle of exchange rate after the financial tsunami; Likelihood of an asset bubble and then a crisis in economies outside the US during the overheated phase of the recovery. Through these discussions, the author hopes to share his knowledge on macroeconomic policy management accumulated over the past thirty five years. In particular, he would like to share his insights on macroeconomic policy management before, during and after an asset inflation era or a crisis period. He would also like to warn policy makers and financial investors on the likelihood of an asset bubble and then a crisis in economies outside the US. The author hopes this book could eventually stimulate the emergence of OC macroeconomic policy managementOCO as a new and important discipline in economics. While the focus of the book is on macroeconomic policy management, it also offers important lessons and strategies on share and property investments. Thus, economists, policy makers, central bank officials, economics students, business and finance professionals, individual investors and academia in other disciplines will find the book useful."
Download or read book China s Exchange Rate Regime written by China Development Research Foundation and published by Routledge. This book was released on 2014-12-05 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: The imbalance between China’s currency, the RMB, and those of other countries is widely regarded as a major problem for the world economy. There was a reform of China’s exchange rate mechanism in 2005, following which the RMB appreciated 17% against the US dollar, but many people argue that further reform is still needed. This book reports on a major research project undertaken following the 2005 reform to assess the impact on China’s economy. It considers the impact in a number of areas of the economy, including export-oriented companies, the banking industry, international trade, international capital flows, and China’s macroeconomic policy. It concludes that the policies pursued so far have been correct, and that further reform, both to the exchange rate, and to the system overall, would be desirable, but that any reform should be gradual and incremental, preserving economic stability, and integrating changes with reform in other parts of the economy.
Download or read book China written by Mr.Mario I. Bléjer and published by International Monetary Fund. This book was released on 1991-03-15 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: China encountered problems preserving economic stability while pursuing reforms aimed at increasing its economic flexibility and efficiency. This paper examines China's experience with market-oriented reforms since 1978, offering lessons for other centrally planned economies in the midst of transition to free markets.
Download or read book Exchange Rate Systems and Policies in Asia written by Paul S. L. Yip and published by World Scientific. This book was released on 2008 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book comprises insightful papers on lessons learned from some major exchange rate and monetary experiences in Asia, exchange rate crisis management in Asia and choice of exchange rate systems in Asia. Originally published in the Singapore Economic Review, Vol. 52, No. 3, 2007, it deals primarily with the exchange rate systems and policies in the three largest economies in Asia: China, Japan and India. It also contains a paper on Singapore''s exchange rate system, whose success could make it a role model for other small open economies. Notable contributors include Ronald McKinnon and John Williamson, among others. The editor is the original designer of China''s latest exchange rate system reform.
Download or read book China s Exchange Rate System Reform Lessons For Macroeconomic Policy Management written by Paul Sau Leung Yip and published by World Scientific. This book was released on 2011-05-26 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author of this book is the original proponent of China's exchange rate system reform announced in 2005. This book discusses:Through these discussions, the author hopes to share his knowledge on macroeconomic policy management accumulated over the past thirty five years. In particular, he would like to share his insights on macroeconomic policy management before, during and after an asset inflation era or a crisis period. He would also like to warn policy makers and financial investors on the likelihood of an asset bubble and then a crisis in economies outside the US. The author hopes this book could eventually stimulate the emergence of “macroeconomic policy management” as a new and important discipline in economics.While the focus of the book is on macroeconomic policy management, it also offers important lessons and strategies on share and property investments. Thus, economists, policy makers, central bank officials, economics students, business and finance professionals, individual investors and academia in other disciplines will find the book useful.
Download or read book Exchange Rate Reform written by Dongqi Chen and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: For three decades China has followed an incremental approach in renminbi exchange rate reform. During this period, the exchange rate system has gone through five stages of evolution: i) a “basket peg” exchange rate regime; ii) a dual-track system; iii) exchange rate convergence; iv) a “unitary pegged” exchange rate regime; and v) a managed floating exchange rate regime based on market supply and demand with reference to a basket of currencies. Reforming the exchange rate formation mechanism is a complex engineering project influenced by numerous factors such as the economic development mode, industrial structure, basic economic system, market system condition, financial and macroeconomic policy system as well as the new advantages arising from opening-up initiatives. Since 2005, China has achieved substantial success in reforming the exchange rate formation mechanism but still faces a plethora of issues. To address these issues, China should strengthen the role of the market in the exchange rate formation process and gradually push for the free convertibility of the renminbi under the capital account. Amidst the raging global financial crisis, China should further adapt to the diversification of the international monetary system and aggressively proceed with renminbi regionalization and internationalization.
Download or read book China s Evolving Exchange Rate Regime written by Mr.Sonali Das and published by International Monetary Fund. This book was released on 2019-03-07 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de jure floating currencies. Allowing a greater role for market forces within the existing regime, and greater two-way flexibility of the exchange rate, are important steps to build on the progress already made. This should be complemented by further steps to develop the FX market, improve FX risk management, and modernize the monetary policy framework.
Download or read book Debating China s Exchange Rate Policy written by Morris Goldstein and published by Peterson Institute. This book was released on 2008 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China s 40 Years of Reform and Development 1978 2018 written by Ross Garnaut and published by ANU Press. This book was released on 2018-07-19 with total page 709 pages. Available in PDF, EPUB and Kindle. Book excerpt: The year 2018 marks 40 years of reform and development in China (1978–2018). This commemorative book assembles some of the world’s most prominent scholars on the Chinese economy to reflect on what has been achieved as a result of the economic reform programs, and to draw out the key lessons that have been learned by the model of growth and development in China over the preceding four decades. This book explores what has happened in the transformation of the Chinese economy in the past 40 years for China itself, as well as for the rest of the world, and discusses the implications of what will happen next in the context of China’s new reform agenda. Focusing on the long-term development strategy amid various old and new challenges that face the economy, this book sets the scene for what the world can expect in China’s fifth decade of reform and development. A key feature of this book is its comprehensive coverage of the key issues involved in China’s economic reform and development. Included are discussions of China’s 40 years of reform and development in a global perspective; the political economy of economic transformation; the progress of marketisation and changes in market-compatible institutions; the reform program for state-owned enterprises; the financial sector and fiscal system reform, and its foreign exchange system reform; the progress and challenges in economic rebalancing; and the continuing process of China’s global integration. This book further documents and analyses the development experiences including China’s large scale of migration and urbanisation, the demographic structural changes, the private sector development, income distribution, land reform and regional development, agricultural development, and energy and climate change policies.
Download or read book Reforming China s Economic System written by Dwight Heald Perkins and published by . This book was released on 1988 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book China us Trade Frictions Shaping New Equilibriums With The Eu And The Us Towards A New Multilateralism Or Tripolarism written by Xugang Yu and published by World Scientific. This book was released on 2021-01-05 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows the impact of the recent trade tensions between China and the US on the world trade order, and how parties have reached a deal (so called 'phase one', January 2020), which could lead to a more comprehensive agreement, and the consequences of these 'adjustments' in shaping new equilibriums.After 40 years, China has transformed into an economic superpower, which could now rival the US. This has evoked some concerns, and put the US in an uncomfortable position, as the US views the rise of China as a threat to its predominance and interests. However, China's development and its increasing economic power, which is a direct consequence of the ongoing reform process, is unstoppable.The confrontation between China and the US will favor Chinese expansion into the EU not only because the EU offers a more receptive environment for Chinese Foreign Direct Investment, but also because the EU and China have more in common if we consider the Belt And Road Initiative and the new bilateral investment agreement which is under negotiation. The EU, not only represents the final destination of the BRI, but also a more logical and convenient trade partner for China.The shift of Chinese attention toward the EU will also change the equilibrium between China, the EU and the US, bring forth the negotiation of new trade agreements, and move the entire international community towards a new world trade order and a new multilateralism which might evolve into a tripolarism.
Download or read book Monetary and Currency Policy Management in Asia written by Masahiro Kawai and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asian economies strengthened their monetary and currency management after the Asian financial crisis of 19971998, and came through the global financial crisis of 20072009 relatively well. Nevertheless, the recent global crisis has presented new challenges. This book develops recommendations for monetary and currency policy in Asian economies aimed at promoting macroeconomic and financial stability in an environment of global economic shocks and volatile capital flows. Monetary and Currency Policy Management in Asia draws lessons from crises and makes concrete macroeconomic policy recommendations aimed at minimizing the impacts of an economic and financial downturn, and setting the stage for an early return to sustainable growth. The focus is on short-term measures related to the cycle. The three main areas addressed are: monetary policy measures, both conventional and unconventional, to achieve both macroeconomic and financial stability; exchange rate policy and foreign exchange reserve management, including the potential for regional cooperation to stabilize currency movements; and ways to ease the constraints on policy resulting from the so-called 'impossible trinity' of fixed exchange rates, open capital accounts and independent monetary policy. This is one of the first books since the global financial crisis to specifically and comprehensively address the implications of the crisis for monetary and currency policy in emerging market economies, especially in Asia. Presenting a broad menu of policy options for financial reform and regulation, the book will be of great interest to finance experts and policymakers in the region as well as academics and researchers of financial and Asian economics as well as economic development.
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book ICEMBDA 2023 written by Jianguo Liu and published by European Alliance for Innovation. This book was released on 2024-01-19 with total page 1261 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 4th International Conference on Economic Management and Big Data Applications was successfully held in Tianjin, China from October 27th to 29th, 2023. This conference served as a platform for researchers, scholars, and industry professionals to exchange knowledge and insights in the field of economic management and the application of big data. The conference held great significance in advancing the understanding and application of economic management and big data. By bringing together experts from around the globe, the conference facilitated the exchange of innovative ideas and research findings, contributing to the development of these fields. The topics covered during the conference showcased the latest advancements and trends in enterprise economic statistics, information evaluation, blockchain technology, industrial structure optimization, information retrieval, data regression analysis, intelligent Internet of Things platforms, and data encryption. The discussions and presentations during the conference allowed participants to explore new methodologies, strategies, and technologies that can enhance economic management practices and leverage the potential of big data. The conference provided a platform for scholars and practitioners to share their experiences, insights, and best practices, fostering collaboration and networking opportunities. Furthermore, the proceedings were published, ensuring the dissemination of valuable research findings to a wider audience. The collective knowledge and research presented at the conference will contribute to the academic community, industry professionals, and policymakers, enabling them to make informed decisions and develop effective strategies in the fields of economic management and big data applications. Overall, the 4th International Conference on Economic Management and Big Data Applications played a pivotal role in promoting knowledge exchange, fostering innovation, and shaping the future of economic management by harnessing the power of big data.
Download or read book China s Economic Rise written by Congressional Research Service and published by Createspace Independent Publishing Platform. This book was released on 2017-09-17 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.
Download or read book Resurging Asian Giants written by Klaus Gerhaeusser and published by Asian Development Bank. This book was released on 2010-07-01 with total page 594 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economies of the People's Republic of China and India have seen dramatic growth in recent years. As their respective successes continue to reshape the world's economic landscape, noted Chinese and Indian scholars have studied the two countries' development paths, in particular their rich and diverse experiences in such areas as education, information technology, local entrepreneurship, capital markets, macroeconomic management, foreign direct investment, and state-owned enterprise reforms. Drawing on these studies, ADB has produced a timely collection of lessons learned that serves as a valuable refresher on the challenges and opportunities ahead for developing economies, especially those in Asia and the Pacific.
Download or read book In the Wake of the Crisis written by Olivier Blanchard and published by MIT Press. This book was released on 2014-08-29 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prominent economists reconsider the fundamentals of economic policy for a post-crisis world. In 2011, the International Monetary Fund invited prominent economists and economic policymakers to consider the brave new world of the post-crisis global economy. The result is a book that captures the state of macroeconomic thinking at a transformational moment. The crisis and the weak recovery that has followed raise fundamental questions concerning macroeconomics and economic policy. These top economists discuss future directions for monetary policy, fiscal policy, financial regulation, capital-account management, growth strategies, the international monetary system, and the economic models that should underpin thinking about critical policy choices. Contributors Olivier Blanchard, Ricardo Caballero, Charles Collyns, Arminio Fraga, Már Guðmundsson, Sri Mulyani Indrawati, Otmar Issing, Olivier Jeanne, Rakesh Mohan, Maurice Obstfeld, José Antonio Ocampo, Guillermo Ortiz, Y. V. Reddy, Dani Rodrik, David Romer, Paul Romer, Andrew Sheng, Hyun Song Shin, Parthasarathi Shome, Robert Solow, Michael Spence, Joseph Stiglitz, Adair Turner
