Economics

China's Currency

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China keeps its currency, the renminbi, artificially low, which boosts its exports and trade surplus but distorts the global market. Chinese leaders, however, consider the managed exchange rate a tool in China's development strategy. Thus far the Obama administration has stopped short of calling the policy "currency manipulation," but some members of Congress are pushing for tough action.  Brookings experts examine the issues and challenges in dealing with the problem.

One-hundred Yuan notes are seen in this picture illustration in Beijing (REUTERS/Jason Lee).

Opinion

Soaring Reserves Put Renminbi Back in the Spotlight

April 15, 2013, Eswar Prasad and Karim Foda

With China’s foreign exchange reserves soaring, the renminbi is back in the spotlight. Eswar Prasad and Karim Foda write that rising capital inflows have led to a surge in accumulation of reserves as China’s central bank tries to fend off pressures for the renminbi to appreciate.

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