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China's Financial Fragility and Policy Responses
Author(s) -
Huang Yiping,
Yang Yongzheng
Publication year - 1998
Publication title -
asian‐pacific economic literature
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.232
H-Index - 21
eISSN - 1467-8411
pISSN - 0818-9935
DOI - 10.1111/1467-8411.t01-1-00037
Subject(s) - devaluation , financial fragility , china , fragility , currency , financial crisis , financial system , economics , currency crisis , economic policy , business , finance , monetary economics , macroeconomics , political science , chemistry , law
This article discusses the problems facing China in the wake of the Asian financial crisis. Chinas has so far (September 1998) avoided devaluation of its currency, but growth has slowed down and much more economic reform is needed, especially of the fragile banking system. The article focuses on China's financial fragility and outlines the required policy measures.