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INTERNATIONALISATION OF YUAN CHINESE ASSETS ABROAD
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INTERNATIONALISATION OF YUAN CHINESE ASSETS ABROAD
Annotation
PII
S0321-50750000617-4-1
Publication type
Article
Status
Published
Authors
Mikhail Zharikov 
Edition
Issue 10
Pages
32-38
Abstract
The article outlines potential scenarios and strategies of yuan internationalisation. The article objectively estimates the prospects of the yuan internationalisation in short term, mid-term and long term. Here the author compares and contrasts the views of Chinese and American economists as to the real value of the yuan. The author also assesses to what extent the yuan underestimation prevents its internationalisation. Moreover, costs and benefits of the yuan internationalisation are considered as well as their impact on the country’s economy. Hypothesis is then expressed in relation to the yuan inclusion into the SDR currency basket. Finally, the article concludes with analysing the specifics of Chinese government’s foreign exchange rate policy in the pre- and post-crisis period.
Keywords
China, yuan internationalisation
Date of publication
01.10.2013
Number of purchasers
1
Views
1022
Readers community rating
0.0 (0 votes)
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Additional sources and materials

1. Frankel J. On the Yuan: the choice between adjustment under a fixed exchange rate and adjustment under a flexible rate // CEFifo Economic Studies. 2006. № 52 (2), p. 246-275. 
 2. Goldstein M, Lardy N. Debating China's Exchange Rate Policy. Washington, 2008. 
 3. Cheung Y.-W., Chinn M.D., Fujii E. The overvaluation of renminbi undervaluation // Journal of International Money & Finance. 2007. № 26, r. 762-785. 
 4. Dunaway S., Li X. Estimating China's equilibrium real exchange rate // IMF Working Paper. 2005. № 05 (202), r. 3-9. 
 5. Dunaway S., Leigh L., Li X. How robust are estimates of equilibrium real exchange rates: The case of China // Pacific Economic Review. 2009. № 14, p. 361-375. 
 6. Ma G., McCauley R.N. The evolving renminbi regime and implications for Asian currency stability // BIS Working Papers. 2010. № 321, p. 1-15. 
 7. People's Bank of China. China's Monetary Policy Report. Beijing, 2008. 
 8. State Administration of Foreign Exchange. China Balance of Payments Report 2007. Beijing, 2008. 
 9. Fung S., Klau M, Ma G, McCauley R. Implications of refined renminbi effective exchange rates with Asian entrepot and intra-regional trade - in Cheung Y.-W., Wong K.-Y. China and Asia: economic and financial interactions. London, 2009, p. 178-193. 
 10. Ma G., McCauley R.N. Op. cit.

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