Simon J. Evenett
SECTION 1: What’s at stake? The clash that could have been...and could still be
1. Correcting the Chinese exchange rate: an action plan
C. Fred Bergsten
2. A trade war is entirely unnecessary
SECTION 2: Recent developments concerning the renminbi-dollar exchange rate
3. What caused China’s current-account surplus?
4. Congress and Chinese currency legislation
SECTION 3: The renminbi and global imbalances
5. Is an undervalued renminbi the source of global imbalances?
6. A trade theorist’s take on global imbalance
Alan V. Deardorff
SECTION 4: How much does the renminbi need to appreciate? To what effect?
7. The renminbi since 2005
8. Is China’s currency overvalued?
9. New PPP-based estimates of renminbi undervaluation and policy implications
10. Measuring misalignment: Latest estimates for the Chinese renminbi
Yin-Wong Cheung, Menzie D Chinn and Eiji Fuji
11. The 2005 to 2008 appreciation of the yuan and US trade
Peter K. Schott
12. Impact of China’s exchange-rate policy on trade in Asia
Alicia García-Herrero and Tuuli Koivu
SECTION 5: Does the crisis-era renminbi regime violate WTO rules? Is the threat of WTO litigation credible?
13. Currency ‘manipulation’ and world trade: a caution
Robert W. Staiger and Alan O. Sykes
14. Currency undervaluation as a violation of GATT Article XV:4
15. Yuan to fight about it? The WTO legality of China’s exchange regime
Joel P. Trachtman
16. Retaliating against exchange rate manipulation under WTO rules
17. Is the Chinese exchange-rate regime ‘WTO-legal’?
18. China's currency regime is legitimately challengeable as a subsidy under ASCM rules
John Magnus and Timothy C. Brightbill
SECTION 6: Potential responses by industrialised countries
19. Deconstructing Sino-US codependence: revaluation, tariffs, exports and jobs
20. US policy approaches to Chinese currency
Philip I. Levy
21. Is the 1971 ‘import surcharge’ a useful precedent?
Simon J. Evenett
22. What should the US and China learn from the past US-Japan conflict?
Jenny Corbett and Takatoshi Ito
23. Should Europe join the US in condemning Chinese currency manipulation?
Patrick A. Messerlin
24. China: revisiting the issue of mercantilism
SECTION 7: Potential responses by China
25. Beijing blinks first – the currency debate in diplomatic context
26. Great expectations: (Competing) domestic drivers of Chinese policy deliberations
27. Absent revaluation, retaliation? Reactions to US restrictions on Chinese exports
28. China's holdings of US government debt: A dagger pointed at the heart of the US economy?