The Renminbi Revaluation: A Currency War against China?
Special lecture (in Mandarin)
Dr Jianyong Yue (岳健勇 博士)
Teaching Fellow in Chinese Politics, Lau China Institute, King's College London
Room 342N (Norfolk Building), King’s College London (Strand Campus)
Thursday, 15 March, 5.30-7.00 pm
China’s conspiracy theorists believe that the RMB revaluation is a US strategy to destroy the Chinese economy, a neo-imperialist clandestine warfare against the rising China. They compare China to Japan in the early 1990s, as Japan was then forced by the US to revalue the yen, resulting in excessive asset speculation and the subsequent bubble burst that plunged Japan into a two-decade long recession. There is, however, no solid evidence to support such a conspiracy theory, and China’s economic situation nowadays is also different from that of Japan in important ways. Dr Yue offers a refreshing analysis on what is behind the “currency dispute” between and within both countries, arguing that it is the particular way of China’s integration into the global economy that has led to the RMB dilemma: devaluation (inflation) at home but revaluation abroad.
Dr Jianyong Yue joined King’s in September 2011. Before receiving a PhD from the London School of Economics (LSE), Dr Yue obtained his BA from the Beijing Foreign Studies University (BFSU) and MBA from the China-Europe International Business School (CEIBS), which ranks among the best business schools in the world. Before coming to London, he had worked in some of China’s key state-owned enterprises, media, as well as multinational firms in China. He has maintained a record of active participation in discussions on China’s economic development in globalization, and has published widely in leading academic and policy journals such as Strategy and Management (China), Dushu (China), Modern China Studies (USA), Le Monde Diplomatique (France), and International Politics (UK), as well as China’s most influential periodicals such as Phoenix Weekly (凤凰周刊) and Nanfengchuang (南风窗).