Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212814 
Year of Publication: 
2015
Series/Report no.: 
BOFIT Discussion Papers No. 4/2015
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
​This paper provides an overview of Chinese financial and trade integration in recent decades, and the challenges facing China in the coming years. China had been a prime example of export-led growth, benefiting from learning by doing, and by adopting foreign know-how, supported by a complex industrial policy. While the resultant growth has been spectacular, it comes with hidden but growing costs and distortions. The Chinese export-led growth path has been challenged by its own success, and the Global Financial Crisis forced China toward rebalancing, which is a work in progress. Reflecting on the internationalization of the CNY, one expects the rapid accelerating of the commercial internationalization of the CNY. In contrast, there are no clear-cut reasons to rush with the full CNY financial internationalization: The gains from CNY financial internationalization are overrated. Publication
Subjects: 
export led growth
CNY internationalization
mercantilism
financial integration
FDI
JEL: 
E60
F36
F40
F60
O24
O40
Persistent Identifier of the first edition: 
ISBN: 
978-952-323-025-5
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.