The appreciating renminbi

Philippe Bacchetta, Kenza Benhima, Yannick Kalantzis, 9 January 2013

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In the recent US presidential campaign, China was accused again of currency manipulation. In other words, the Chinese central bank is accused of maintaining the exchange rate at an artificially low level compared to its equilibrium value, including heavy intervention in the foreign exchange market.

Topics: Exchange rates
Tags: China, Currency manipulation, Currency wars

Half a century of large currency appreciations: Did they reduce imbalances and output?

Helmut Reisen, Moritz Schularick, , Edouard Turkisch, 2 March 2011

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Over the past decade, several emerging market economies – China in particular – have run substantial and persistent current-account surpluses.

Topics: Exchange rates, International trade, Monetary policy
Tags: China, Currency manipulation, exchange-rate policy, US

Why China's exchange rate is a red herring

Avinash Persaud, 10 April 2010

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“Blame foreigners for domestic woe” is the sad but unsurprising cardinal rule of politics, followed by even the most ardent internationalist.

Topics: International finance
Tags: Chinese exchange rate, Currency manipulation

Currency “manipulation” and world trade: A caution

Robert W. Staiger, Alan O. Sykes, 30 January 2009

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The Chinese yuan was pegged from 1994 until mid-2005 at 8.28 yuan to the US dollar. China shifted in 2005 to a policy of loosely pegging the yuan to a basket of major currencies. Since then the yuan has appreciated against the dollar, and the current yuan/dollar exchange rate stands at roughly 6.84.

Topics: Exchange rates, International trade
Tags: China, Currency manipulation, renminbi, yuan undervaluation

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