Time for RMB appreciation?
|
An employee counts banknotes at a China Minsheng Banking Corp branch in Nanjing, Jiangsu province. An Xin / for China Daily |
Editor's Note: To revalue the yuan or not? This has been one of the hottest topics for the past decade and it has become an issue not only for Chinese policymakers but other governments around the world. The upcoming G20 summit of leaders from major developed and developing economies and the worsening of the European sovereign debt crisis have complicated the discussion of the yuan's appreciation, with Chinese economists divided on the timing of the process. While some argue that appreciation would do more harm than good, others urge the opportunity be seized to accelerate the process of making the yuan fully convertible.
