event

China's RMB: Is it Seriously Under-Valued and Unfairly Manipulated?

Thu. December 8th, 2005
Washington, D.C.

While the U.S. Treasury Department has exercised great patience regarding China’s adoption of a more flexible exchange rate system, some members of Congress want China to make a larger revaluation. Is China’s renminbi seriously under-valued and unfairly manipulated?IMGXYZ439IMGZYX

On December 8, 2005, the Carnegie Endowment’s China Program hosted a lively debate on this topic. Carnegie’s Albert Keidel argued that the renminbi is not seriously under-valued, and is therefore not unfairly manipulated.  Morris Goldstein, of the Institute for International Economics, disagreed strongly, arguing that the renminbi is both very under-valued and unfairly manipulated in violation of IMF codes of conduct. American Enterprise Institute’s Desmond Lachman moderated the debate.

Political ReformChina
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
event speakers

Albert Keidel

Senior Associate, China Program

Keidel served as acting director and deputy director for the Office of East Asian Nations at the U.S. Department of the Treasury. Before joining Treasury in 2001, he covered economic trends, system reforms, poverty, and country risk as a senior economist in the World Bank office in Beijing.

Morris Goldstein

Desmond Lachman