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dc.contributor.authorMakin, Tonyen_US
dc.contributor.editorAlfred E Eckes (Editor-in-Chief)en_US
dc.date.accessioned2017-04-24T14:52:35Z
dc.date.available2017-04-24T14:52:35Z
dc.date.issued2008en_US
dc.date.modified2009-09-03T07:18:19Z
dc.identifier.issn1553-5304en_US
dc.identifier.doi10.2202/1524-5861.1403en_AU
dc.identifier.urihttp://hdl.handle.net/10072/23081
dc.description.abstractThis paper evaluates China's exchange rate policy and current account surplus in the context of its rapid development. Recognizing that external imbalances reflect divergent national production and expenditure growth within both China and its trading partners, it contends that yuan exchange rate undervaluation against major currencies is central to any explanation of global imbalances. This misalignment artificially assists China's output growth and limits its household consumption, thereby slowing the rise in China's living standards. Meanwhile, due to currency misalignment, China's industrialized trading partners, most notably the United States and European Union, simultaneously experience larger bilateral current account deficits with China, lower output, lower saving and higher investment than otherwise. Further significant appreciation of China's exchange rate would simultaneously reduce China's huge trade surplus and the bilateral deficits of its trading partners, thereby alleviating international trade tensions.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.format.extent1311139 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherWalter de Gruyter GmbHen_US
dc.publisher.placeUnited Statesen_US
dc.publisher.urihttp://www.bepress.com/index.htmlen_AU
dc.relation.ispartofstudentpublicationNen_AU
dc.relation.ispartofpagefrom1en_US
dc.relation.ispartofpageto10en_US
dc.relation.ispartofissue3en_US
dc.relation.ispartofjournalGlobal Economy Journalen_US
dc.relation.ispartofvolume8en_US
dc.rights.retentionYen_AU
dc.subject.fieldofresearchMacroeconomics (incl. Monetary and Fiscal Theory)en_US
dc.subject.fieldofresearchcode140212en_US
dc.titleThe Inflexible Yuan and Global Imbalancesen_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of Accounting, Finance and Economicsen_US
gro.rights.copyrightCopyright 2008 Berkeley Electronic Press. The attached file is reproduced here in accordance with the copyright policy of the publisher.en_AU
gro.date.issued2008
gro.hasfulltextFull Text


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