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【案例名称】China: To Float or Not to Float? (A)
【作者】Laura Alfaro, Rafael Di Tella, Ingrid Vogel
【页数】30
【格式】PDF
【语言】英语
【出版日期】2006年3月2日
【修订日期】2010年4月2日
【学科】公共关系 (Business & Government Relations)
【案例编号】706021-PDF-ENG
【来源】HBS Premier Case Collection
【网页】http://cb.hbsp.harvard.edu/cb/product/706021-PDF-ENG
【简介】
On July 21, 2005 China revalued its decade-long quasi-fixed exchange rate of approximately 8.28 yuan per U.S. dollar by 2.1% to 8.11% and, at the same time, introduced a more market-based exchange rate system. Many analysts and economists were disappointed with what they considered too small a change and called for more flexibility in the U.S. dollar/yuan exchange rate. Modification to China's exchange rate regime had been eagerly anticipated and much debated in the preceding months as China's trade surplus against the United States reached record highs and as friction intensified with Europe and Japan. Also, analysts argued that the tightly managed exchange rate put a strain on China's own economy. Not only was the exchange rate expensive to sustain, but it contributed to--as well as limited China's flexibility in responding to--a potentially overheating economy. Although China's extensive controls on the movement of capital into the country helped to counteract some inflationary pressure, controls were becoming more porous as China increasingly integrated with the world economy. It remained to be seen what China would ultimately choose to do with its exchange rate regime.
【学习目标】
To link China's exchange rate policy with its development strategy; to discuss the historical context of and sustainability of flaws with China's development strategy; to understand the mechanics of China's exchange rate policy; and to debate what China should do with its exchange rate policy and how this will impact businesses located in China and elsewhere.
【涉及课题】
Currency; Exchange rates; Macroeconomics; Strategy
【背景】
* Geographic: China
* Industry: Banking
* Event Year Begin: 2005
* Event Year End: 2005
【下载】
http://www.mbabbs.com/thread-306-1-1.html
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