The Role of China's Bureaucracy in its No-Devaluation Policy during the Asian Financial Crisis

Japanese Journal of Political Science 4 (1):61-76 (2003)
  Copy   BIBTEX


Analysts have generally offered two explanations for China's no-devaluation policy during the Asian financial crisis. The first is China's good economic fundamentals and the renminbi is not fully convertible. The second is China's foreign relations' imperative. China was endeavouring to seek favourable entry conditions into the WTO and improve relations with its Asian neighbours. At the same time it sought to exploit the undercurrent of resentment in Asia towards the role played by the US during the crisis. Policy making in China has become more institutionalized in the post-Deng era, but these explanations ignore the role of China's domestic bureaucratic actors in exchange rate policy making. This paper examines the exchange rate regime preferences of China's key economic ministries and their influences in exchange rate policy making and argues that Party leaders were able to adopt a no-devaluation policy throughout the crisis because China's key economic ministries actively supported or acquiesced to that policy



    Upload a copy of this work     Papers currently archived: 76,479

External links

Setup an account with your affiliations in order to access resources via your University's proxy server

Through your library

Similar books and articles

China, Economic Regionalism, and East Asian Integration.Wang Yuzhu - 2011 - Japanese Journal of Political Science 12 (2):195-212.
Changing Media, Changing Foreign Policy in China.Susan L. Shirk - 2007 - Japanese Journal of Political Science 8 (1):43-70.
Human rights in China: Between Marx and Confucius.Robert Weatherley - 2000 - Critical Review of International Social and Political Philosophy 3 (4):101-125.


Added to PP

78 (#157,773)

6 months
1 (#455,463)

Historical graph of downloads
How can I increase my downloads?

Citations of this work

No citations found.

Add more citations

References found in this work

No references found.

Add more references