The Chinese Yuan: The Revaluation Dilemma
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Case Code: ECOA132 Case Length: 16 Pages Period: - Pub Date: 2005 Teaching Note: Not Available |
Price: Rs.300 Organization : - Industry : - Countries : China Themes: - |
Abstract Case Intro 1 Excerpts
Introduction
With China coming to occupy a central place in the global economy, the country's economic policies were attracting significant international attention. In early 2005, the Chinese government indicated that it intended to liberalize capital controls. Having already eased some controls on capital outflows, in the past one year, Chinese officials mentioned that they would open up the capital account further during 2005. Meanwhile, the Yuan had been pegged to the dollar for a decade. There was a widespread belief that the Yuan was unfairly cheap. The increase in China's official reserves seemed to be clear evidence in this regard. But senior Chinese politicians believed that China could not let its exchange rate move more freely before it had fixed its weak banking system. Otherwise, there would be a large outflow of capital...
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