RMB Interest Rate reform: Risk of International Monetary Environment

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摘要 OnJuly21,2005,thePeople'sBankofChinaannouncedanewreformplan,accordingtowhich,RMBwouldnolongerbepeggedtotheU.S.dollarbutwouldreformtheexchangerateregimebymovingintoamanagedfloatingexchangerateregimebasedonmarketsupplyanddemandwithreferencetoabasketofcurrencies.①ThereformisanimportantstepintheprocessofChina'sreformandopening-up.HenceithasspecialsignificanceforeconomicdevelopmentofChina.However,whatmeritsattentionisthatthepresentinternationalmonetaryregimeisunstable,financialsystemisveryfragileandbigpowershaveshownanunwillingnesstotakefinancialcooperation.②ThishasposedgreatchallengestotheprocessofRMBexchangeratereform.NowIwouldliketoexaminethepossiblerisksofthereformandthentrytomakesomesuggestionsthroughmakingsomeanalysisofthestatusquoofinternationalmonetaryandfinancialsystem.
机构地区 不详
出版日期 2005年08月18日(中国期刊网平台首次上网日期,不代表论文的发表时间)
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