The Renminbi Valuation and Global Imbalances
The valuation of the Chinese Renminbi (RMB) continues to cause tension in US-China relations. Although the People’s Bank of China introduced some limited flexibilities ahead of the Toronto G20 meeting, it failed to convince those who accused China of currency manipulation and call for sanctions, possibly authorized by the WTO.
Are the critics right – is the global imbalance fuelled by the RMB valuation, and is it holding back the global recovery? Or have they exaggerated the effect of Chinese currency policy? Is the RMB really undervalued? And what policy options are there for the EU and the Eurozone as we approach the next step in the EU-China dialogue?
ECIPE is pleased to invite you to a presentation by Professor Sylvain Plasschaert, Professor Emeritus of the University of Antwerp, the Catholic University of Leuven and a former fiscal economist at the World Bank who has published extensively on economic developments in China. This presentation is based on his forthcoming ECIPE paper ‘Is the Renminbi Undervalued?’ which analyses the case through key features of China’s macro-economy, including foreign exchange reserves, trade surplus and the current account balance.
Discussant at this seminar is Dr. Ulrich Jochheim from the European Commission, who is in charge of China, India and Korea in the International Directorate of the DG Economic & Financial Affairs.
You are cordially invited to the presentation and to take part in the following discussion.
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