China's Exchange Rate Impasse and the Weak U.S. Dollar

Since 2004, China has been backed into a situation where the renminbi is expected to go ever higher against the dollar, and this one-way bet has led to a loss of domestic monetary control. Combined with a more general flight from the U.S. dollar, the resulting monetary explosion in China contributes to the worldwide increase in primary commodity prices - with excess liquidity reminiscent of the global inflation generated by the weak dollar in the 1970s

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Year of publication:	[2021]
Authors:	McKinnon, Ronald I. ; Schnabl, Gunther
Publisher:	[S.l.] : SSRN
Subject:	China \| Wechselkurs \| Exchange rate \| USA \| United States \| Außenwirtschaftliches Gleichgewicht \| External balance \| Geldpolitik \| Monetary policy \| Renminbi \| Leistungsbilanz \| Current account \| Aufwertung \| Currency appreciation \| Inflation \| Welt \| World \| US-Dollar \| US dollar

Extent:	1 Online-Ressource (28 p)
Series:	CESifo Working Paper Series ; No. 2386
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 2008 erstellt
Other identifiers:	10.2139/ssrn.1264942 [DOI]
Classification:	E31 - Price Level; Inflation; Deflation ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination ; F31 - Foreign Exchange
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013316479