Cover image for China’s exchange rate variation : impacts on industrial restructuring
Title:
China’s exchange rate variation : impacts on industrial restructuring
Personal Author:
Gu, Kejian
Publication Information:
Singapore : Enrich Professional Pub., 2013.
Physical Description:
xiii, 255 p. : ill. ; 26 cm.
ISBN:
9789814298346
Subject Term:
Foreign exchange -- China

Industrial organization -- China
Added Author:
Yu, Jian

Chen, Yixi

Zhou, Kai

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 30000010242791 HG3978 G85 2013 Open Access Book Book
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Summary

Summary

The book analyzes the external influences, especially the influences of exchange rate variation, on China's current industrial restructuring under the development of open economy and globalization. It concludes that the key driving force for China's industrial restructuring is the development of its external sectors, such as the exchange rate mechanism and new strategies in the financial economy's capital market. The influences of the exchange rate variation, which is exerted through a unique mechanism, over China's industrial restructuring would be more obvious. This book also suggests that in order to keep improving the industrial structure, China should actively adjust the exchange rate of Renminbi (RMB) and achieve dynamic comparative advantages.


Author Notes

Gu Kejian is a professor of international trade theory and policy at the Renmin University of China. His works have been published in numerous academic journals, including the Journal of Economic Research and the World Economy .


Excerpts

Excerpts

In achieving the goal of transformation from an agricultural country to an industrial country, developing countries should comply with the development strategy of domestic comparative advantage. Relevant empirical analysis shows that the transformation of development strategy by the Chinese government is the key to the successful industrialization over the past 20 years. Whether it is a state-owned industry or a non-state-owned industry, whether it is a rural industry or an urban industry, its development has to follow the principle of comparative advantage (Lin Yifu and Liu Mingxing, 2004). The empirical studies based on China's experience have shown that the economic development strategy of comparative advantage has significantly promoted labor capital accumulation, as well as technological progress, which is in line with Lin Yifu's hypothesis of the influence of development strategy on capital accumulation and technological progress, and the growth in China is also consistent with the hypothesis (Lin Yifu and Liu Peilin, 2003). Excerpted from China's Exchange Rate Variation: Impact on Industrial Restructuring by Kejian Gu, Jian Yu All rights reserved by the original copyright owners. Excerpts are provided for display purposes only and may not be reproduced, reprinted or distributed without the written permission of the publisher.