Perspective on Exchange Rates: A Discussion on Disequilibrium Markets and China's Foreign-Involving Economy, Stocks and Real Estate

Author: Yang Fan
Publisher:
Publish Date: 2005-06-01
Features: "Perspective on Exchange Rates—With Discussion on Disequilibrium Markets and China's Foreign-Economy, Stocks, and Real Estate" combines the discussion of the RMB exchange rate with the current economic situation. It is the second academic masterpiece by Yang Fan, a renowned economist and professor at China University of Political Science and Law. Professor Yang has been researching the RMB exchange rate for 20 years. His previous work, "Research on the RMB Exchange Rate—With Discussion on the Asian Financial Crisis and China's Foreign Economy," was published in 2000. In 2004, he led the National Natural Science Foundation of China's emergency project titled "Trends of the RMB Exchange Rate and Its Impact on China's Economy." Based on this research, combined with China's economy since 2000, this book was further published. The book strengthens theoretical research on actual exchange rates, explains the roots of the pressure for RMB appreciation, and employs social accounting matrices for general equilibrium analysis, calculating the impact of RMB appreciation on China's economy. Additionally, the book explores major issues such as macroeconomic regulation, income distribution, real estate, and stocks. It reflects the author's reflection on the market economy, and its content and perspectives offer insightful significance for the current choices and adjustments in social and economic development direction, as well as for establishing a new vision of reform and opening up.