Währungswettbewerb: Renminbi vs. US-Dollar, China vs. USA
von Thomas Groß, 03.2011
Diese Literaturauswahl thematisiert einerseits den Währungswettbewerb zwischen China und den USA sowie andererseits die Problematik eines niedrigen Yuan-Wechselkurses gegenüber dem US-Dollar und die Auswirkungen möglicher Aufwertungsszenarien.
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Wesentliches Schlagwort: Aufwertung
Wesentliches Schlagwort: Renminbi
Wesentliches Schlagwort: Wechselkurs
Regionale Aspekte: China – Aufwertung
Regionale Aspekte: China – Renminbi
Regionale Aspekte: China – Wechselkurs
Literaturliste
How to sustain the Chinese economic miracle? : the risk of unraveling the global rebalancing / by Jörg Bibow.
This paper investigates China’s role in creating global imbalances, and the related call for a massive renminbi revaluation as a (supposed) panacea to forestall their reemergence as the world economy recovers from severe crisis. We reject the prominence widely attributed to China as a cause of global imbalances and the exclusive focus on the renminbi-dollar exchange rate as misguided. And we emphasize that China’s response to the global crisis has been exemplary. Apart from acting as a growth leader in the global recovery by boosting domestic demand to offset the slump in exports, China has in the process successfully completed the first stage in rebalancing its economy, which is in stark contrast to other leading trading nations that have simply resumed previous policy patterns. The second stage in China’s rebalancing will consist of further strengthening private consumption. We argue that this will be best supported by continued reliance on renminbi stability and capital account management, so as to assure that macroeconomic policies can be framed in line with domestic development requirements. — Global imbalances ; rebalancing ; Renminbi revaluation ; stimulus package ; exportled growth
- How to sustain the Chinese economic miracle? : the risk of unraveling the global rebalancing / by Jörg Bibow.
(2010) Working papers / The Levy Economics Institute ; 617; Online-Ressource (27 S.).
USA, China, Indien : droht ein globaler Abwertungswettlauf? / Andreas Rees, Markus Taube, Bernd Kempa, Georg Erber.
- USA, China, Indien : droht ein globaler Abwertungswettlauf? / Andreas Rees, Markus Taube, Bernd Kempa, Georg Erber.
(2010) In: Ifo-Schnelldienst. – München. – Bd. 63.2010, 22, (26.Nov.2010) S. 3-17.
Strukturelle Verzerrungen im Währungskrieg / Gunther Schnabl.
- Strukturelle Verzerrungen im Währungskrieg / Gunther Schnabl.
(2011) In:  . – Bd. 91.2011, 2, (Feb.2011) S. 102-106.
Befinden sich die Währungen im internationalen Abwertungswettlauf? / Federico Foders.
- Befinden sich die Währungen im internationalen Abwertungswettlauf? / Federico Foders.
(2010) In: Orientierungen zur Wirtschafts- und Gesellschaftspolitik. – Bonn. – Bd. 126.2010, 4, (Dez.2010) S. 32-35.
Die Perspektive des chinesischen Yuan / von Horst Rodemer und Feifei Liu.
- Die Perspektive des chinesischen Yuan / von Horst Rodemer und Feifei Liu.
(2007) Gengenbacher Arbeitspapier ; 64; 35 Bl.
Weltkrieg der Währungen : wie Euro, Gold und Yuan um das Erbe des Dollar kämpfen / Daniel D. Eckert.
- Weltkrieg der Währungen : wie Euro, Gold und Yuan um das Erbe des Dollar kämpfen / Daniel D. Eckert.
(2010) 2. Aufl. – München; 272 S.
- Weltkrieg der Währungen : wie Euro, Gold und Yuan um das Erbe des Dollar kämpfen / Daniel D. Eckert.
(2010) 3. Aufl. – München; 272 S.
- Weltkrieg der Währungen : wie Euro, Gold und Yuan um das Erbe des Dollar kämpfen / Daniel D. Eckert.
(2010) 1. Aufl. – München; 272 S.
Der chinesische Yuan : Gewinner der globalen Wirtschafts- und Finanzkrise? / Michael Frenkel.
- Der chinesische Yuan : Gewinner der globalen Wirtschafts- und Finanzkrise? / Michael Frenkel.
(2009) In: Wirtschaftswissenschaftliches Studium. – München. – Bd. 38.2009, 10, (Okt.2009) S. 493.
Appreciating the renminbi / Rod Tyers; Ying Zhang.
- Appreciating the renminbi / Rod Tyers; Ying Zhang.
(2010) CAMA working paper series ; 2010,30; Online-Ressource (35 S., 368,94 Kb).
- Appreciating the renminbi / Rod Tyers and Ying Zhang.
(2010) [Cralwey]; 36 S.
Is the Chinese currency substantially misaligned to warrant further appreciation? / Duo Qin and Xinhua He.
This study provides quarterly time-series estimates of the misalignment in the REER of the Renminbi (RMB). The estimation is based on a commonly used economic approach, but with a wider and more up-to-date coverage of data and a more extensive use of econometric modelling techniques. Our estimates corroborate and explain most of the previous estimates. More importantly, our estimates demonstrate that there is no significant undervaluation in the REER of the RMB though downward misalignment exists in the trilateral rates between the RMB, US$ and euro. The finding refutes the claim that RMB appreciation is the primary and necessary solution to the current global trade imbalance. — Real exchange rate misalignment
- Is the Chinese currency substantially misaligned to warrant further appreciation? / Duo Qin and Xinhua He.
(2010) Working paper series / Department of Economics, Queen Mary, University of London ; 660; Online-Ressource (PDF-Datei: 26 S.).
- Is the Chinese currency substantially misaligned to warrant further appreciation? / Duo Qin; Xinhua He.
(2010) Economics / Discussion papers ; 2010-8; Online-Ressource (PDF-Datei: 23 S.).
Will an appreciation of the Renminbi rebalance the global economy? : a dynamic financial CGE analysis / by Jingliang Xiao and Glyn Wittwer.
- Will an appreciation of the Renminbi rebalance the global economy? : a dynamic financial CGE analysis / by Jingliang Xiao and Glyn Wittwer.
(2009) General paper / The Centre of Policy Studies and the Impact Project : B; Online-Ressource (33 S., 353,24 Kb).
Are currency appreciations contractionary in China? / Jianhuai Shi.
- Are currency appreciations contractionary in China? / Jianhuai Shi.
(2006) NBER working paper series ; 12551; 41 S.
China’s exchange rate impasse and the weak US dollar / Ronald McKinnon and Gunther Schnabl.
Since 2004, China has been backed into a situation where the renminbi is expected to go ever higher against the dollar, and this one-way bet has led to a loss of domestic monetary control. Combined with a more general flight from the U.S. dollar, the resulting monetary explosion in China contributes to the worldwide increase in primary commodity priceswith excess liquidity reminiscent of the global inflation generated by the weak dollar in the 1970s.
- China’s exchange rate impasse and the weak US dollar / Ronald McKinnon and Gunther Schnabl.
(2010) In: The new international monetary system. – 2010, S. 107-124.
- China’s exchange rate impasse and the weak U.S. dollar / Ronald McKinnon; Gunther Schnabl.
(2008) Working Paper / Universität Leipzig ; 73; Online-Ressource (25, 3 S.).
- China’s exchange rate impasse and the weak U.S. dollar / Ronald McKinnon; Gunther Schnabl.
(2008) CESifo working paper series ; 2386 : Monetary policy and international finance; 23 S.
- China’s exchange rate impasse and the weak U.S. dollar / Ronald Ian McKinnon; Gunther Schnabl.
(2008) CESifo working paper ; 2386 : Monetary policy and international finance; Online-Ressource (PDF-Datei: 23 S., 241 KB).
The revaluation and future adjustment of the renminbi / Benjamin Everard and Terence Tai-leung Chong.
- The revaluation and future adjustment of the renminbi / Benjamin Everard and Terence Tai-leung Chong.
(2007) In: The Chinese economy. – Armonk, NY. – Bd. 40.2007, 5, (9/10.2007) S. 6-20.
How would an appreciation of the renminbi and other East Asian currencies affect China’s exports? / Willem Thorbecke and Gordon Smith.
- How would an appreciation of the renminbi and other East Asian currencies affect China’s exports? / Willem Thorbecke and Gordon Smith.
(2010) In: Review of international economics. – Oxford [u.a.]. – Bd. 18.2010, 1, (Feb.2010) S. 95-108.
Abbau globaler Handelsungleichgewichte : muss China aufwerten? / Ansgar Belke; Christian Dreger; Georg Erber.
- Abbau globaler Handelsungleichgewichte : muss China aufwerten? / Ansgar Belke; Christian Dreger; Georg Erber.
(2010) In: Wochenbericht. – Berlin. – Bd. 77.2010, 40, (6.Okt.2010) S. 2-8.
Relevant international experience of real exchange rate adjustment for China / Yingfeng Xu.
- Relevant international experience of real exchange rate adjustment for China / Yingfeng Xu.
(2009) In: China economic review. – Amsterdam [u.a.]. – Bd. 20.2009, 3, (Sep.2009) S. 440-451.
Excess liquidity, inflation and the yuan appreciation : what can China learn from recent history? / Chengsi Zhang.
- Excess liquidity, inflation and the yuan appreciation : what can China learn from recent history? / Chengsi Zhang.
(2009) In: The world economy. – Oxford. – Bd. 32.2009, 7, (Jul.2009) S. 998-1018.
Revaluation of the Chinese currency and its impacts on China : a political economy approach / Jingtao Yi, Yongnian Zheng, and Minjia Chen.
- Revaluation of the Chinese currency and its impacts on China : a political economy approach / Jingtao Yi, Yongnian Zheng, and Minjia Chen.
(2008) In: Issues & studies. – Taipei. – Bd. 44.2008, 2, (Jun.2008) S. 193-218.
Are currenty appreciations contractionary in China? / Jianhuai Shi.
- Are currenty appreciations contractionary in China? / Jianhuai Shi.
(2008) In: International financial issues in the Pacific Rim. – Chicago, Ill. [u.a.]. – 2008, S. 71-101.
The impacts of Renminbi appreciation on trades flows and reserve accumulation in a monetary trade model / Li Wang; John Whalley.
- The impacts of Renminbi appreciation on trades flows and reserve accumulation in a monetary trade model / Li Wang; John Whalley.
(2007) NBER working paper series ; 13586; 33 S.
Real exchange rate and manufacturing employment in China / Ping Hua.
- Real exchange rate and manufacturing employment in China / Ping Hua.
(2007) In: China economic review. – Bd. 18.2007, 3, S. 335-353.
- Real exchange rate and manufacturing employment in China / Ping Hua.
(2005) Etudes et documents / Centre d’Etudes et de Recherches sur le Développement International ; E 2005.28; Online-Ressource, text.
Stein des Anstoßes : China verweigert spürbare Yuan-Aufwertung / Friedrich L. Sell.
- Stein des Anstoßes : China verweigert spürbare Yuan-Aufwertung / Friedrich L. Sell.
(2007) In: Die Bank. – Köln. – Bd. 2007,3, S. 20-23.
Impact of China’s Yuan revaluation / William Pan; Kamal Upadhyaya; Jiayaan Liang.
- Impact of China’s Yuan revaluation / William Pan; Kamal Upadhyaya; Jiayaan Liang.
(2006) In: International business and economics research journal. – Littleton, Colo.. – Bd. 5.2006, 11, (Nov.2006) S. 67-71.
“Yuan” political economy : China’s currency revaluation and its implications / Shalendra D. Sharma.
- “Yuan” political economy : China’s currency revaluation and its implications / Shalendra D. Sharma.
(2006) In: Review of Asian and Pacific studies. – Tokyo. – Bd. 2006,31, (Okt.2006) S. 101-114.
Winners and losers : assessing the impact of Chinese yuan appreciation / Jian Zhang; Hung-Gay Fung.
- Winners and losers : assessing the impact of Chinese yuan appreciation / Jian Zhang; Hung-Gay Fung.
(2006) In: Journal of policy modeling. – New York, NY [u.a.]. – Bd. 28.2006, 9, (Dez.2006) S. 995-1009.
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