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.
People pass by a board showing currency exchange rates in Moscow, February 11, 2014.
The Fed is Not to Blame for Turmoil in Emerging Markets
February 12, 2014, Eswar Prasad
While central bankers have blamed the Federal Reserve for ongoing turmoil in emerging markets, Eswar Prasad argues that root of the problem is a failure of the domestic policy of their own governments.
Asia and the Pacific
January 15, 2014
May 30, 2013
April 18, 2013
April 16, 2013
November 29, 2012
October 9, 2012
May 1, 2012
March 26, 2012
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The Brookings Institution
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
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