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Author: Eswar Prasad
Publisher: Oxford University Press
ISBN: 0190631058
Category : Business & Economics
Languages : en
Pages : 345
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Book Description
China's currency, the renminbi, has taken the world by storm. This book documents the renminbi's impressive rise to global prominence in a short period but also shows how much further it has to go before becoming a major international currency. The hype about its inevitable ascendance to global dominance is overblown.
Author: Eswar Prasad
Publisher: Oxford University Press
ISBN: 0190631058
Category : Business & Economics
Languages : en
Pages : 345
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Book Description
China's currency, the renminbi, has taken the world by storm. This book documents the renminbi's impressive rise to global prominence in a short period but also shows how much further it has to go before becoming a major international currency. The hype about its inevitable ascendance to global dominance is overblown.
Author: Peter G. Zhang
Publisher: World Scientific
ISBN: 981238927X
Category : Business & Economics
Languages : en
Pages : 403
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Book Description
Since late 2002 there have been many disputes and discussions around the world on whether or not the Chinese yuan (CNY), or renminbi (RMB), should be revalued. Based on various arguments and discussions, the CNY has been expected to be revalued worldwide, as evidenced by the significant premiums for the CNY non-deliverable forwards in the offshore marketplace. With the CNY revaluation perspectives, hundreds of billions of US dollars have been invested in various types of CNY-related derivatives products. The purpose of this book is not to tell the reader whether the RMB should be revalued, or by how much it should be revalued, as these questions are the work of economists. Instead, as a derivatives specialist with more than te years' experience in the international financial market and with working experience in China in the past few years, the author presents trading of CNY-related derivatives products in the offshore marketplace. The book is organized into five parts. The first part familiarizes readers with the Chinese economy in transition and the Chinese financial market, so that they can make their own judgment as to whether or not the CNY should be revalued. Part II presents major foreign exchange derivatives trading in organized exchanges and the over-the-counter marketplace around the world. Part III reviews what foreign exchange products were involved both before and during the Asian financial crisis, because many of them were used to speculate or hedge against devaluations of the Asian currencies. Part IV studies various CNY-related derivatives products and embedded derivatives products. Finally, Part V examines the possible impacts of these derivatives products on the CNYexchange rate, based on the experiences of other currencies such as the Korean won and the New Taiwan dollar.
Author: Miaojie Yu
Publisher: Springer Nature
ISBN: 9811575223
Category : Business & Economics
Languages : en
Pages : 309
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Book Description
This book, by one of China's leading economists, explores the past and present of the RMB—the people's currency—as it is poised to compete with the dollar as the international reserve currency. Exchange rate movement and its pass-through to changes in domestic prices have been topics of wide concern among economists. However, relatively few studies have empirically investigated the relationship between exchange rate movements and China's international trade.This book fills this gap, using the general equilibrium theory of the western economic science norm systems, integrating the leading heterogeneous firm theory of international trade, attempting to set up a theoretical structural model for further prediction, and applying the data from sample cases to examine the structural model. This book will be of interest to economists, financiers, and China watchers.
Author: Paul Jakov Smith
Publisher: BRILL
ISBN: 1684173817
Category : History
Languages : en
Pages : 549
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Book Description
This volume seeks to study the connections between two well-studied epochs in Chinese history: the mid-imperial era of the Tang and Song (ca. 800-1270) and the late imperial era of the late Ming and Qing (1550-1900). Both eras are seen as periods of explosive change, particularly in economic activity, characterized by the emergence of new forms of social organization and a dramatic expansion in knowledge and culture. The task of establishing links between these two periods has been impeded by a lack of knowledge of the intervening Mongol Yuan dynasty (1271-1368). This historiographical "black hole" has artificially interrupted the narrative of Chinese history and bifurcated it into two distinct epochs. This book aims to restore continuity to that historical narrative by filling the gap between mid-imperial and late imperial China. The contributors argue that the Song-Yuan-Ming transition (early twelfth through the late fifteenth century) constitutes a distinct historical period of transition and not one of interruption and devolution. They trace this transition by investigating such subjects as contemporary impressions of the period, the role of the Mongols in intellectual life, the economy of Jiangnan, urban growth, neo-Confucianism and local society, commercial publishing, comic drama, and medical learning.
Author: Barry Eichengreen
Publisher: Brookings Institution Press
ISBN: 0815726120
Category : Political Science
Languages : en
Pages : 401
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Book Description
A Brookings Institution Press and Asian Development Bank Institute publication Meet the next global currency: the Chinese renminbi, or the "redback." Following the global financial crisis of 2008, China's major monetary policy objective is the internationalization of the renminbi, that is, to create an inter-national role for its currency akin to the international role currently played by the U.S. dollar. Renminbi internationalization is a hot topic, for good reason. It is, essentially, a window onto the Chinese government's aspirations and the larger process of economic and financial transformation. Making the renminbi a global currency requires rebalancing the Chinese economy, developing the country's financial markets and opening them to the rest of the world, and moving to a more flexible exchange rate. In other words, the internationalization of the renminbi is a monetary and financial issue with much broader supra-monetary and financial implications. This book offers a new perspective on the larger issues of economic, financial, and institutional change in what will eventually be the world's largest economy.
Author: Robert Minikin
Publisher: John Wiley & Sons
ISBN: 1118339282
Category : Business & Economics
Languages : en
Pages : 212
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Book Description
The rise of the renminbi and what it means for forex markets Chinese authorities have ambitious plans to "internationalize" the renminbi, transforming it from a tightly controlled domestic legal tender into a global currency for international trade, held by both private and public sector asset managers. The Offshore Renminbi examines this impending currency revolution, outlining why the emergence of China as a major economic power will likely soon be matched by a transformation of the renminbi's role in the global financial system. It explains how new markets for "offshore" renminbi are developing outside mainland China since the country is not yet ready to fully open up its economy to international capital flows, and the regulations that govern them. The potential growth for the renminbi market is vast, thanks to China's role in the global trading community. The early stages of the internationalization effort were small-scale, but momentum has greatly increased over the past 18 months, making this book more relevant than ever. These developments offer new opportunities (and challenges) for corporate treasurers and investors, as China's profound economic success and growing prominence in global trade may transform offshore renminbi into a new global reserve currency and a legitimate competitor to the U.S. dollar. Explores how the "internationalization" of the renminbi is likely to yield a new global currency to rival the U.S. dollar Examines "offshore" renminbi and the host of new financial markets they have created, from a spot FX market to Dim Sum bonds in Hong Kong Covers broad themes of interest to general readers and policymakers, as well as more detailed issues of practical and direct importance to corporate treasurers and investors The Chinese government has ambitious plans to make the renminbi a global currency. The Offshore Renminbi explains the complexities of this strategy and the dramatic implications for the global FX markets.
Author: Patrick Fuliang Shan
Publisher: UBC Press
ISBN: 0774837810
Category : History
Languages : en
Pages : 332
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Book Description
Statesman or warlord? Yuan Shikai (1859–1916) has been both hailed as China’s George Washington for his role in the country’s transition from empire to republic and condemned as a counter-revolutionary. In any list of significant modern Chinese figures, he stands in the first rank. Yet Yuan Shikai: A Reappraisal sheds new light on the controversial history of this talented administrator, fearsome general, and enthusiastic modernizer. Due to his death during the civil war his actions provoked, much Chinese historiography portrays Yuan as a traitor, a usurper, and a villain. After toppling the last emperor of China, Yuan endeavoured to build dictatorial power and establish his own dynasty while serving as the first president of the new republic, eventually going so far as to declare himself emperor. Drawing on previously untapped primary sources and recent scholarship, Patrick Fuliang Shan offers a lucid, comprehensive, and critical new interpretation of Yuan’s part in shaping modern China.
Author: James C. Y. Watt
Publisher: Metropolitan Museum of Art
ISBN: 0300166567
Category : Art and society
Languages : en
Pages : 362
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Book Description
Published in conjunction with an exhibition held at the Metropolitan Museum of Art, New York, Sept. 28, 2010-Jan. 2, 2011.
Author: Yuan-kang Wang
Publisher: Columbia University Press
ISBN: 0231522401
Category : Political Science
Languages : en
Pages : 330
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Book Description
Confucianism has shaped a certain perception of Chinese security strategy, symbolized by the defensive, nonaggressive Great Wall. Many believe China is antimilitary and reluctant to use force against its enemies. It practices pacifism and refrains from expanding its boundaries, even when nationally strong. In a path-breaking study traversing six centuries of Chinese history, Yuan-kang Wang resoundingly discredits this notion, recasting China as a practitioner of realpolitik and a ruthless purveyor of expansive grand strategies. Leaders of the Song Dynasty (960-1279) and Ming Dynasty (1368-1644) prized military force and shrewdly assessed the capabilities of China's adversaries. They adopted defensive strategies when their country was weak and pursued expansive goals, such as territorial acquisition, enemy destruction, and total military victory, when their country was strong. Despite the dominance of an antimilitarist Confucian culture, warfare was not uncommon in the bulk of Chinese history. Grounding his research in primary Chinese sources, Wang outlines a politics of power that are crucial to understanding China's strategies today, especially its policy of "peaceful development," which, he argues, the nation has adopted mainly because of its military, economic, and technological weakness in relation to the United States.
Author: Jerome Chʼên
Publisher:
ISBN:
Category : China
Languages : en
Pages : 304
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Book Description
