The RMB Exchange Rate under the International Monetary System

XIA Bin1 (夏斌) and CHEN Dao-fu2 (陈道富)

 
Editorial note:

Throughout the world in recent years. However, is it true, as some scholars claim, that the Chinese currency has been undervalued by 25% or even 40%? Where is the pressure for RMB appreciation coming from? What kind of policies should China adopt in relation to this matter? The following article will carry out an objective evaluation and analysis in order to answer these questions. The Renminbi exchange rate has become the hot topic of conversation among scholars.

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