Gift Guide

China's Monetary Challenges: Past Experiences and Future Prospects

Hardcover (Print)
Buy New
Buy New from
Used and New from Other Sellers
Used and New from Other Sellers
from $1.99
Usually ships in 1-2 business days
(Save 97%)
Other sellers (Hardcover)
  • All (11) from $1.99   
  • New (7) from $44.35   
  • Used (4) from $1.99   


Despite the People's Republic of China's remarkable growth over the post-1978 reform period, questions have arisen about the sustainability of its exchange rate policy and the soundness of its financial system. This book focuses on the key monetary challenges to China's continued advancement and addresses such topical issues as the buildup of foreign exchange reserves, monetary control, credit allocation difficulties, and the expanding role of China's asset markets and stock exchanges. Current and past monetary policy strategies are examined in detail, as are the banking sector reforms leading up to fuller foreign competition after December 2006. The analysis also assesses the People's Republic's role within Greater China (including Hong Kong and Taiwan) and the potential for future renminbi monetary hegemony within Asia. The treatment of these issues is intended to be accessible to non-economists and does not assume prior immersion in the underlying formal models.
Read More Show Less

Editorial Reviews

From the Publisher
“This book is insightful, comprehensive, and timely. It is a must-read for anyone interested in understanding China’s monetary challenges into the 21st century. The terrific data in Burdekin’s book will be particularly valuable to many readers.”
–James R. Barth, Auburn University

“There are many books on China, but few intelligent ones on the Chinese financial market. Richard Burdekin’s work is very timely to fill the gap. For those who want to understand issues on Chinese monetary policy, equity markets, banks, and the exchange rate, this book provides comprehensive coverage.”
– Baizhu Chen, Gordon S. Marshall School of Business, University of Southern California

“An invaluable source of information on the evolution of China’s monetary institutions from the 1930s until the present, and on the future path of reform.”
–James A. Dorn, Cato Institute, Washington, D.C.; coeditor of China’s Future: Constructive Partner or Emerging Threat?

“Burdekin’s careful research provides valuable insight into a number of current policy issues facing China and the global economy and illustrates several fascinating historical episodes. One finds that today is not the first time that pegging exchange rates has generated serious macroeconomic problems for China’s economy.”
–Thomas Willet, Dean, School of Politics and Economics, Claremont Graduate University

Read More Show Less

Product Details

  • ISBN-13: 9780521880169
  • Publisher: Cambridge University Press
  • Publication date: 7/7/2008
  • Pages: 272
  • Product dimensions: 6.10 (w) x 9.00 (h) x 1.00 (d)

Meet the Author

Richard C. K. Burdekin is Jonathan B. Lovelace Professor of Economics at Claremont McKenna College and was a Visiting Senior Fellow at Hawaii's East-West Center in August 2005. He was previously a Visiting Scholar at the Federal Reserve Bank of Dallas and Assistant Professor at the University of Miami. Richard Burdekin first visited China in 1998. His main research interests include Chinese economic reforms, inflation and deflation, and central bank policymaking. Richard Burdekin has published in journals such as the American Economic Review, Economica, Economic Inquiry, the Journal of Financial Economics, the Journal of International Money and Finance, and the Journal of Money, Credit, and Banking. His book on Deflation: Current and Historical Perspectives (co-edited with Pierre L. Siklos) was published in 2004 by Cambridge University Press. Prior books include Distributional Conflict and Inflation (with Paul Burkett, 1996); Establishing Monetary Stability in Emerging Market Economies (with Thomas D. Willett, Richard J. Sweeney, and Clas Wihlborg, 1995); Confidence, Credibility and Macroeconomic Policy (with Farrokh K. Langdana, 1995); and Budget Deficits and Economic Performance (with Farrokh K. Langdana, 1992).
Read More Show Less

Table of Contents

Introduction China Today and Lessons from the Past 1

Pt. I China's Exchange Rate Regime and Monetary Policy

1 The Renminbi-US Dollar Exchange Rate Controversy 11

2 China's Reserve Buildup and Global Imbalances 33

3 Combatting Inflation and Deflation 55

4 People's Bank of China Policymaking and External Pressures with Pierre L. Siklos 76

Pt. II The Importance of International Factors, Past and Present

5 US Pressure on China and Hong Kong in the 1930s 95

6 Inflation Transmission to Taiwan in the 1940s with Hsin-hui I. H. Whited 118

7 WTO Challenges and China's Banking Sector Today with Emily Kochanowicz 136

Pt. III The People's Republic's Role Within Greater China and Asia

8 Asset Market Expansion and Shanghai vs. Hong Kong Listings of Chinese Firms with Gregory C. Arquette and William O. Brown, Jr. 165

9 Economic Interdependence with Taiwan with Hsin-hui I. H. Whited 188

10 Conclusions and Future Prospects for the Renminbi 219

References 227

Author Index 249

Subject Index 255

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Terms of Use.
  • - Barnes & reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)