Show simple item record

dc.contributor.authorMakin, AJ
dc.contributor.editorAlfred E Eckes (Editor-in-Chief)
dc.date.accessioned2017-05-03T16:56:38Z
dc.date.available2017-05-03T16:56:38Z
dc.date.issued2008
dc.date.modified2009-09-03T07:18:19Z
dc.identifier.issn1524-5861
dc.identifier.doi10.2202/1524-5861.1403
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.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.format.extent1311139 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglish
dc.language.isoeng
dc.publisherWalter de Gruyter GmbH
dc.publisher.placeUnited States
dc.publisher.urihttp://www.bepress.com/index.html
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom1
dc.relation.ispartofpageto10
dc.relation.ispartofissue3
dc.relation.ispartofjournalGlobal Economy Journal
dc.relation.ispartofvolume8
dc.rights.retentionY
dc.subject.fieldofresearchApplied economics
dc.subject.fieldofresearchMacroeconomics (incl. monetary and fiscal theory)
dc.subject.fieldofresearchcode3801
dc.subject.fieldofresearchcode380112
dc.titleThe Inflexible Yuan and Global Imbalances
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.rights.copyright© 2008 Berkeley Electronic Press. The attached file is reproduced here in accordance with the copyright policy of the publisher.
gro.date.issued2008
gro.hasfulltextFull Text
gro.griffith.authorMakin, Tony J.


Files in this item

This item appears in the following Collection(s)

  • Journal articles
    Contains articles published by Griffith authors in scholarly journals.

Show simple item record