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Foreign exchange reserves: a new challenge to China

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  • Tun-jen Cheng
  • Xuan Liu

Abstract

This paper discusses the challenge imposed by the Chinese government's unprecedented amount of foreign exchange reserves. Our cost and benefit analysis reveals that political considerations are more important than economic factors. Given its choice of gradual appreciation, the Chinese government will face social unrest in the long term that differs from what it faces in the short term.

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  • Tun-jen Cheng & Xuan Liu, 2013. "Foreign exchange reserves: a new challenge to China," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 35(4), pages 621-650.
    • Handle: RePEc:mes:postke:v:35:y:2013:i:4:p:621-650
    DOI: 10.2753/PKE0160-3477350406
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    Cited by:

    1. Yeonjeong Lee & Seong-Min Yoon, 2020. "Relationship between International Reserves and FX Rate Movements," Sustainability, MDPI, vol. 12(17), pages 1-24, August.

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