RMB appreciation or fiscal stimulus, and their policy implications

Title: RMB appreciation or fiscal stimulus, and their policy implications
Creator: Zhang, James Xiaohe
Relation: China's Economy in the Post-WTO Environment: Stock Markets, FDI and Challenges of Sustainability p. 183-200
Publisher: Edward Elgar
Resource Type: book chapter
Date: 2011
Description: Despite the accumulated appreciation of the Renminbi (RMB) against the US dollar by more than 22 percent in nominal terms between 2005 and 2010, China's exports keep growing and its trade surplus continues to surge. It is reported that when the RMB broke 7 RMB per US dollar for the first time in 13 years, China's current account surplus hit a historical record of US$296 billion in 2008, accounting for 10 percent of its GDP. This surge has not been disrupted by a continuing appreciation of the RMB in 2010, beating market expectations (BBC, 2010). As a result, China's foreign exchange reserve keeps growing. By June 2010, the reserve had accumulated to over $2.45 trillion.
Subject: Renminbi (RMB); China; fiscal stimulus; foreign exchange reserve
Identifier: http://hdl.handle.net/1959.13/1325289
Identifier: uon:25231
Identifier: ISBN:9781849809344
Language: eng

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