President George W. Bush would do well to welcome the 9 per cent effective appreciation of the Chinese currency over the past year.

Could the Renminbi replace the dollar as an international medium of exchange? In his latest Economic Outlook, John Makin explains why such fears are premature and unwarranted.

There's much chatter that the Chinese renminbi will eventually replace the U.S. dollar as the world's preeminent international reserve currency, but this supposed inevitability is highly questionable.

Somewhere in the alphabet soup of institutional acronyms--WTO, G-7, G-20, IMF--it would seem there might be one that could prompt China to revalue its currency. Certainly, Washington's had little luck on its own.

China's inflation rate has reached a point where it is sparking social unrest. The world's second-largest economy faces some fundamental choices if it is to restore stability.

China should bear its share of the adjustments made necessary by thelarge global payment imbalances.

China and Russia have decided to renounce the U.S. dollar and want to use their own currencies for bilateral trade in an attempt to lodge a complaint about its mismanagement.

China's ultimate objective must be to float the currency to allow it to find its own level in a world of capital convertibility.