Exchange Rate Undervaluation and Growth in China

Exchange Rate Undervaluation and Growth in China

The widely held belief that China’s undervalued exchange rate has been crucial to its rapid industrialization and economic growth over the last four decades is critically qualified and nuanced. In any case, renminbi (RMB) appreciation, rising wages with exhaustion of its labour surplus, growing dome...

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Bibliographic Details
Published in:Development (Society for International Development) 2020-03, Vol.63 (1), p.120-125
Main Authors: Popov, Vladimir, Jomo, Kwame Sundaram
Format: Article
Language:eng
Subjects:
Appreciation
Development and Social Change
Development Economics
Development Policy
Development Studies
Economic crisis
Economic growth
Fatigue
Foreign exchange rates
Housework
Industrialization
International trade
Renminbi
Social Sciences
Unplugged
Wages & salaries
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Summary:The widely held belief that China’s undervalued exchange rate has been crucial to its rapid industrialization and economic growth over the last four decades is critically qualified and nuanced. In any case, renminbi (RMB) appreciation, rising wages with exhaustion of its labour surplus, growing domestic demand and slowing international trade and growth following the 2008 global financial crisis have reduced China’s economic growth.
ISSN:1011-6370
1461-7072