Joseph Stiglitz observed during a recent public lecture in Hong Kong that the world is badly in need of a new reserve asset. This chapter follows up this idea and argues that China is in a unique position to contribute to the world by coming up with a new exchange rate arrangement involving just such a new reserve asset.
Contribution to Book
A sustainable currency regime for Hong Kong and the mainlandChina, Hong Kong and the world economy: Studies on globalization
Document TypeBook chapter
Publisher StatementCopyright @ contributors 2006. Access to external full text or publisher's version may require subscription.
Additional InformationISBN of the source publication: 9781403987426
Citation InformationHo, L. S. (2006). A sustainable currency regime for Hong Kong and the mainland. In L. S. Ho & R. Ash (Eds.), China, Hong Kong and the world economy: Studies on globalization (pp. 101-118). New York: Palgrave Macmillan.