{"product_id":"9781452762449","title":"Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China","description":"This paper reviews the issues involved in moving towards greater exchange rate flexibility and capital account liberalization in China. A more flexible exchange rate regime would allow China to operate a more independent monetary policy, providing a useful buffer against domestic and external shocks. At the same time, weaknesses in China’s financial system suggest that capital account liberalization poses significant risks and should be a lower priority in the short term. This paper concludes that greater exchange rate flexibility is in China’s own interest and that, along with a more stable and robust financial system, it should be regarded as a prerequisite for undertaking a substantial liberalization of the capital account.","brand":"INTERNATIONAL MONETARY FUND","offers":[{"title":"Default Title","offer_id":47176938881264,"sku":"9781452762449","price":7.5,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0737\/7593\/9824\/files\/9781452762449_p0.jpg?v=1763847893","url":"https:\/\/shop-qa.barnesandnoble.com\/products\/9781452762449","provider":"Barnes \u0026 Noble (DEV)","version":"1.0","type":"link"}