FROM TRADE SURPLUS TO THE DISPUTE OVER THE EXCHANGE RATE: Quantitative Analysis of RMB Appreciation

Since 2005, China has been accused of causing the trade deficit and manipulating the exchange rate. At the same time, there have been arguments against the RMB appreciation. The reason for this conflict is the lack of quantitative research or elaboration on many extremely important indicators.To correctly describe the industrial chain and value-added process around the world, it is necessary to identify data by using new methods and separating the processing trade from the non-processing tr...