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.
Reuters/Stringer - A bank clerk counts Chinese yuan banknotes at a branch of Industrial and Commercial Bank of China in Huaibei, Anhui province, June 8, 2012.
Is China Serious About Liberalizing the Renminbi?
September 30, 2014, Eswar Prasad, Karim Foda and Abhinav Rangarajan
Eswar Prasad, Karim Foda and Abhinav Rangarajan examine China's steady progress on its path to making the renminbi an international currency.
Asia and the Pacific
January 9, 2015
Article | International Monetary Fund
June 2014, David Dollar
Interview | CCTV America
May 14, 2014, David Dollar
May 14, 2014, Arthur R. Kroeber
Opinion | Wall Street Journal
May 6, 2014, Eswar Prasad
March 11, 2014, Arthur R. Kroeber
Opinion | Financial Times
February 12, 2014, Eswar Prasad
Opinion | Bloomberg Briefs
January 22, 2014, Eswar Prasad and Michael Pettis
January 15, 2014
November 21, 2013, Qiao Yu
View All Research on China's Currency ›Show 10 More
You have not selected any newsletters.
Senior Fellow, Global Economy and Development
New Century Chair in International Trade and Economics
Senior Fellow, Foreign Policy, Global Economy and Development, John L. Thornton China Center
The Brookings Institution is a private nonprofit organization devoted to independent research and innovative policy solutions. For nearly 100 years, Brookings has analyzed current and emerging issues and produced new ideas that matter—for the nation and the world.
1775 Massachusetts Ave, NW,
Washington, DC 20036
© 2015 The Brookings Institution