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Essay

China'S Industrialization

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Issue:

Miscellaneous

 

Written by:

Louis W

 

Date added:

February 14, 2014

 

Level:

University

 

Grade:

B

 

No of pages / words:

10 / 2646

 

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7980 times

 

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Essay content:

From 1994, when China adopted a fixed exchange rate-pegging its currency to the American dollar, to 2001 China’s current account surplus totaled an average of only 1.8 percent of its GDP. This number rose to an average of 3.1 percent in 2002-03 and then to 4.2 percent in 2004. China has also had a capitol account surplus, one that averaged 1...
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China has also had a capitol account surplus, one that averaged 1.3 percent of the GDP in 1999-2001, rising to 3.2 percent in 2002-03, and then to 6.7 percent in 2004. In order to keep its currency, the Yuan, pegged ay 8.29/dollar, while facing such significant surpluses on current and capitol accounts, China’s authorities have had to purchase large amounts of foreign exchange and reserves have risen respectively...
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