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The Chinese Exchange Rate

Essential Reading from the Institute

Policy Brief 12-23: Updated Estimates of Fundamental Equilibrium Exchange Rates [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
November 2012

Working Paper 12-19: The Renminbi Bloc Is Here: Asia Down, Rest of the World to Go? [pdf]
by Arvind Subramanian, Peterson Institute for International Economics
and Martin Kessler, Peterson Institute for International Economics
October 2012
Revised August 2013

Policy Brief 12-19: Combating Widespread Currency Manipulation [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
July 2012

Policy Brief 12-7: Projecting China's Current Account Surplus [pdf]
by William R. Cline, Peterson Institute for International Economics
April 2012

Working Paper 12-4: Spillover Effects of Exchange Rates: A Study of the Renminbi [pdf]
by Aaditya Mattoo, The World Bank
and Prachi Mishra, International Monetary Fund
and Arvind Subramanian, Peterson Institute for International Economics
March 2012

Policy Brief 11-18: The Current Currency Situation [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
November 2011

Op-ed: For a Serious Impact, Tax Chinese Assets in the United States
by Joseph E. Gagnon, Peterson Institute for International Economics
Op-ed in U.S. News & World Report. Reposted with permission.
October 13, 2011

RealTime Economic Issues Watch: The Internal Cost of China's Currency Policy
by Joseph E. Gagnon, , Nicholas R. Lardy, and Nicholas Borst
October 3, 2011

Working Paper 11-14: Renminbi Rules: The Conditional Imminence of the Reserve Currency Transition [pdf]
by Arvind Subramanian, Peterson Institute for International Economics
September 2011

Op-ed: Coming Soon: When the Renminbi Rules the World
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Financial Times
September 11, 2011

Op-ed: Countering China's Economic Dominance
by Arvind Subramanian, Peterson Institute for International Economics
Op-ed in the Business Standard, New Delhi
August 24, 2011

Peterson Perspective: Bumpy Transition to New Leadership in China [pdf]
by Nicholas R. Lardy, Peterson Institute for International Economics
Nicholas R. Lardy assesses Vice President Biden's trip to China in August and the lingering sources of disagreement over currency and other issues.
August 19, 2011

Peterson Perspective: China's Currency Continues to be Undervalued [pdf]
by William R. Cline, Peterson Institute for International Economics
William R. Cline discusses his latest study with John Williamson on fundamental equilibrium exchanges rates (FEERs) and its conclusion that the renminbi remains undervalued.
June 8, 2011

Op-ed: Taxing China's Assets: How to Increase US Employment Without Launching a Trade War
by Joseph E. Gagnon, Peterson Institute for International Economics
and Gary Clyde Hufbauer, Peterson Institute for International Economics
Op-ed in Foreign Affairs
April 25, 2011

Working Paper 11-6: Capital Account Liberalization and the Role of the Renminbi [pdf]
by Nicholas R. Lardy, Peterson Institute for International Economics
and Patrick Douglass, Peterson Institute for International Economics
February 2011

Policy Brief 10-26: Currency Wars? [pdf]
by William R. Cline, Peterson Institute for International Economics
and John Williamson, Peterson Institute for International Economics
November 2010

Op-ed: Obama Has to Tell Beijing Some Hard Truths
by C. Fred Bergsten, Peterson Institute for International Economics
Op-ed in the Financial Times
November 29, 2010

Congressional Testimony: Correcting the Chinese Exchange Rate [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Hearing on China’s Exchange Rate Policy, Committee on Ways and Means, US House of Representatives
September 15, 2010

Policy Brief 10-20: Renminbi Undervaluation, China’s Surplus, and the US Trade Deficit [pdf]
by William R. Cline, Peterson Institute for International Economics
August 2010

Congressional Testimony: Correcting the Chinese Exchange Rate: An Action Plan
by C. Fred Bergsten, Peterson Institute for International Economics
Testimony before the Committee on Ways and Means, US House of Representatives
March 24, 2010

Congressional Testimony: China's Exchange Rate Policy and Trade Imbalances
by Nicholas R. Lardy, Peterson Institute for International Economics
Testimony before the Hearing of the Senate Committee on Banking, Housing, and Urban Affairs Subcommittee on Economic Policy
April 22, 2010

Book: The Future of China's Exchange Rate Policy
Policy Analyses in International Economics No. 87
by Morris Goldstein and Nicholas R. Lardy
July 2009

Book: Debating China's Exchange Rate Policy
edited by Morris Goldstein and Nicholas R. Lardy
April 2008

Book: China's Rise: Challenges and Opportunities (hardcover)
by C. Fred Bergsten , Charles Freeman , Nicholas R. Lardy and Derek J. Mitchell
September 2008

Congressional Testimony: China's Lending Activities and the US Debt
by Simon Johnson, Peterson Institute for International Economics
Testimony submitted to the US-China Economic and Security Review Commission hearing on US Debt to China: Implications and Repercussions, Panel I: China's Lending Activities and the US Debt
February 25, 2010

Peterson Perspective: China vs. the Rest of the World? [pdf]
by Arvind Subramanian, Peterson Institute for International Economics
Arvind Subramanian argues that exporting countries in Asia, Africa, and Latin America have more reason than the United States to oppose China’s artificially undervalued currency.
February 4, 2010

Peterson Perspective: FEERs Update: China's Persistently Undervalued Currency [pdf]
by John Williamson, Peterson Institute for International Economics
In the light of PIIE's latest update of estimates of fundamental equilibrium exchange rates (FEERs), John Williamson discusses China's currency practices, its undervalued renminbi, and the impact on US-China trade.
January 29, 2010

Speech: Currency Wars, the Economy of the United States, and Reform of the International Monetary System [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
May 15, 2013