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Exchange Rate Instability: Japan's Micro–Macro Experiences and Implications for China
Author(s) -
Ishida Mamoru
Publication year - 2006
Publication title -
china and world economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.815
H-Index - 28
eISSN - 1749-124X
pISSN - 1671-2234
DOI - 10.1111/j.1749-124x.2006.00013.x
Subject(s) - renminbi , exchange rate , china , economics , liberian dollar , zhàng , hedge , us dollar , macro , monetary economics , international economics , finance , geography , ecology , archaeology , computer science , biology , programming language
Since 1985, the yen‐dollar exchange rates repeatedly fluctuated and climbed to a level that could not be justified by economic fundamentals. The impacts on the Japanese economy were serious and far‐reaching. Since 21 July 2005, China has been moving toward a more flexible exchange rate regime. Keeping RMB exchange rates basically stable and providing Chinese industries with means to hedge exchange rate risks are essential for China's sound economic development. Edited by Zhinan Zhang