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  • Stephen Roach Faculty Member, 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

    Feb 16 , 2015

    European quantitative easing policy lead to the depreciation of the RMB exchange rate, but this depreciation is being carefully and intentionally observed by China’s central bank to observe the actual impact on the Chinese economy. A more flexible and internationalized RMB will be better to guard against depreciation.

  • 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.

  • Zhang Monan Senior Fellow, China Center for International Economic Exchanges

    Jul 23 , 2014

    Since the start of the global financial crisis and the emergence of regional trade alliances in the global economy, “a currency swap network” has emerged in financial and monetary fields.

  • 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 Deputy Director, 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.

  • Ronald McKinnon Professor, Stanford University

    Apr 12 , 2014

    In late February, the gradual appreciation of the renminbi was interrupted by a 1% depreciation. The resulting international outcry obscured a troubling feature of China’s exchange-rate policy: the tendency for sporadic renminbi appreciation (even small movements) to trigger speculative inflows of “hot” money.

  • Michael Justin Lee Lecturer, University of Maryland

    Mar 04 , 2014

    Recent fluctuations in the Chinese yuan have given way to far-flung fears that the Chinese economy is faltering. However, Michael Justin Lee explains that the yuan’s fall against the U.S. Dollar was engineered by the People’s Bank of China and was necessary to reduce hot money the Chinese economy slows.

  • Yi Xianrong Researcher, Chinese Academy of Social Sciences

    Feb 05 , 2014

    Although in 2014, it appears China will be adhering to a “prudent” monetary policy and working to balance its finances, the world’s number two economy will still face considerable challenges, such as rising credit and an appreciating currency.

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