IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

What is the Future Role of the Chinese Currency in Global Financial Markets?

Listed author(s):
  • John Ryan


    (Department of Economics, University Of Venice C� Foscari)

China's economic and diplomatic ascendancy over the past decade has been nothing short of phenomenal in terms of world history. It has seen its influence on the world stage grow from being a bit part player at the start of the 20th century, when its territory sovereignty was encroached upon by the European colonial powers and Japan mounted a campaign of conquest, to being seen as the biggest strategic threat to American primacy in the global economy. This view of China as an economic threat has been reiterated recently by various key figures in the United States administration, with calls for a revaluation of China's currency in light of the huge trade deficit the United States has with China. The United States acted on both trade and financial fronts in order to urge Beijing to revalue; in the former, with the implementation of restrictive quotas on certain categories of textiles and garments, and heavy anti-dumping duties on Chinese made TV sets, shoes, furniture and socks, and in the latter with former Treasury Secretary John Snow and former Federal Reserve Chairman Alan Greenspan repeatedly urging Beijing to revalue or move to a flexible exchange rate regime. Although this paper will focus to an extent on the debate about China's valuation of its currency and its effects on the global economic imbalance, it is the aim of this author to attempt an examination of the role the Chinese currency has played in the recent past, its current effect on the global economy and the potential impacts it will have on financial markets in the future.

If 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.

File URL:
File Function: 2008
Download Restriction: no

Paper provided by Department of Economics, University of Venice "Ca' Foscari" in its series Working Papers with number 2008_26.

in new window

Length: 19
Date of creation: 2008
Handle: RePEc:ven:wpaper:2008_26
Contact details of provider: Postal:
Cannaregio, S. Giobbe no 873 , 30121 Venezia

Phone: +39-0412349621
Fax: +39-0412349176
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:ven:wpaper:2008_26. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Geraldine Ludbrook)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.