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Exchange rate
  • Michal Meidan, Director, China Matters

    Jul 13, 2015

    The government’s aggressive response in stabilizing “Uncle Xi’s bull market,” has highlighted the political nature and disconnect between the stock market and overall economic health. The government must decide whether to continue its efforts to open the capital account and liberalize the exchange rate.

  • Sourabh Gupta, Senior Fellow, Institute for China-America Studies

    Jun 01, 2015

    Protectionist U.S. Congressmen are proposing a series of amendments that would enforce currency disciplines for China-U.S. cross-border trading. Rather than protecting import-sensitive sectors with that would penalize developing country producers, Congress and global policymakers would be better off updating the fraying architecture of the international monetary system.

  • Zhang Monan, Deputy Director of Institute of American and European Studies, CCIEE

    May 27, 2015

    China’s main goals are to give consideration to market supply and the exchange rates of basket currencies, to guide market expectations and to maintain a stable RMB exchange rate -- not to jump on the bandwagon of the “global currency war”. That bodes well for the inclusion of the RMB into the Special Drawing Rights currency basket of the IMF before the end of 2015.

  • Guonan Ma, Visiting Research Fellow at Bruegel

    Apr 15, 2015

    The Chinese economy is simply too big to remain tied to the once useful monetary anchor of the renminbi–U.S. dollar peg. It is time to let it go. In the short term, it would help deliver a warranted Chinese monetary easing by helping to stabilise the effective exchange rate and to facilitate an orderly unwinding of the Chinese corporate carry trade.

  • Jeffrey Frankel, Professor, Harvard University's Kennedy School of Government

    Apr 09, 2015

    One of the few things the U.S. Congress agrees upon is the problem of “currency manipulation,” especially on the part of China. The concepts of manipulation, or unfair undervaluation, are exceedingly hard to pin down from an economic viewpoint. It is true that China runs a bilateral surplus with the U.S., but as Jeffrey Frankel shows, this has little meaning for the exchange rate and competitiveness of their exports.

  • Stephen Roach, Senior Fellow, Yale University

    Feb 25, 2015

    The renminbi has appreciated sharply over the past several years, exports are sagging, and the risk of deflation is growing. Under these circumstances, many suggest that a reversal in Chinese currency policy to weaken the renminbi is the most logical course. That would be a serious mistake.

  • Yi Xianrong, Researcher, Chinese Academy of Social Sciences

    Dec 12, 2014

    China’s Central Bank is assessing changes in its international monetary policy in the following areas: RMB internationalization, becoming less dependent on U.S. Federal Reserve monetary adjustments, and containing the arbitrage of foreign speculative investment. With a major focus on the dispossession “outstanding funds for foreign investment,” the RMB is expected to experience moderate depreciation or fluctuation.

  • Yi Xianrong, Researcher, Chinese Academy of Social Sciences

    Jul 17, 2014

    After the Renminbi depreciated for five consecutive months, the market has again seen signs of a pick-up. Some analysts believe the unusual change in RMB exchange rate means the RMB has stopped depreciating and begun returning onto the track of appreciation.

  • Yi Xianrong, Researcher, Chinese Academy of Social Sciences

    Jun 09, 2014

    The RMB exchange rate should gradually reform with less government interference, writes Yi Xianrong.

  • Ding Yifan, China Forum Expert and Deputy Director of China Development Research Center

    May 03, 2014

    In the future, Americans may not worry about the Yuan being undervalued, but will rather worry that a rapidly appreciated Yuan may erode the dollar’s supremacy and thus share the benefits enjoyed by the traditional international reserve currency, writes Ding Yifan.

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