The end of Europe's longstanding indifference to the renminbi
AbstractIn this Policy Contribution, Jean Pisani-Ferry observes the lack of European interest towards Chinaâ??s exchange policy rate. He believes that Europeans, compared to Americans, are slower to react to external developments. The absence of significant external deficit, doubts about which policy stance is desirable, internal disagreements, an untested governance of exchange-rate relations, and a habit of following US leadership may have all contributed to a slow European response. That said, the Europeans have recently woken up to the issue as the euro has appreciated quickly against both the dollar and the renminbi, and they can be expected to adopt an increasingly active stance on Chinaâ??s exchange rate policy.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Bruegel in its series Policy Contributions with number 263.
Date of creation: Jan 2008
Date of revision:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Alan Ahearne & Yung Chul Park & William R. Cline & Jean Pisani-Ferry & Kyung Tae Lee & John Williamson, 2007.
"Global imbalances: time for action,"
- C. Randall Henning, 2007. "Organizing Foreign Exchange Intervention in the Euro Area," Journal of Common Market Studies, Wiley Blackwell, vol. 45, pages 315-342, 06.
- JÃ©rÃ©mie Cohen-Setton & Jean Pisani-Ferry, 2008.
"Asia-Europe: The Third Link,"
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruegel).
If references are entirely missing, you can add them using this form.