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The United States and the PRC: Macroeconomic Imbalances and Economic Diplomacy

The United States and the PRC: Macroeconomic Imbalances and Economic Diplomacy

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Published by ADBI Publications
The People’s Republic of China (PRC)’s current account surplus, its growing foreign exchange reserves, and its shifting policies on exchange rate adjustment have become a central preoccupation of United States (US) trade policy. The paper considers the evolving political economy of the US policy stance and of the PRC’s response; it assesses the opportunity costs of an approach that has sometimes focused on the exchange rate to the exclusion of other issues; and it explores the ramifications for economic governance in the short- and medium-run.

Download this working paper: http://www.adbi.org/working-paper/2011/12/01/4821.us.prc.macroeconomic.imbalances.economic.diplomacy/
The People’s Republic of China (PRC)’s current account surplus, its growing foreign exchange reserves, and its shifting policies on exchange rate adjustment have become a central preoccupation of United States (US) trade policy. The paper considers the evolving political economy of the US policy stance and of the PRC’s response; it assesses the opportunity costs of an approach that has sometimes focused on the exchange rate to the exclusion of other issues; and it explores the ramifications for economic governance in the short- and medium-run.

Download this working paper: http://www.adbi.org/working-paper/2011/12/01/4821.us.prc.macroeconomic.imbalances.economic.diplomacy/

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Published by: ADBI Publications on Dec 02, 2011
Copyright:Traditional Copyright: All rights reserved

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12/02/2011

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