2:00 pm EST - 5:00 pm EST

Past Event

Leadership in Managing Global Financial Instability: The Role of China’s Exchange Rate Policy and Fiscal Expansion

Monday, February 23, 2009

2:00 pm - 5:00 pm EST

School of Public Policy and Management, Tsinghua University
Auditorium Hall

Beijing, China

Content from the Brookings-Tsinghua Public Policy Center is now archived. Since October 1, 2020, Brookings has maintained a limited partnership with Tsinghua University School of Public Policy and Management that is intended to facilitate jointly organized dialogues, meetings, and/or events.

China’s exchange rate policy has been one of the central topics of the U.S.-China economic relationship since the early 21st century. As China adopts large scale fiscal expansion to stabilize its economy and support employment in the current global financial crisis, its exchange rate and monetary policy are also coming under closer scrutiny. In this workshop, scholars and financial experts discussed and shared their remarks on Chinese exchange rate policy and U.S.-China cooperation in the global financial crisis.

Dr. Ronald McKinnon, Professor of International Economics at Stanford University, addressed the importance of a stable RMB exchange rate for China in maintaining economical health and implementing effective fiscal policies. Dr. Geng Xiao, Senior Fellow of the Brookings Institution, raised the issue of coordinated monetary policy and leadership among U.S., China and Japan in order to manage the current global financial crisis. Other speakers included leading Chinese experts and researchers.