This book examines the major economic and political factors influencing China's exchange rate policies from the foundation of the People's Republic to the present. It considers how national economic and political priorities, international influences, domestic institutional interests and the new constraints imposed by China's rapidly globalising post-Mao economy determine exchange rate policy. The authors argue that China's exchange rate decisions were not made simply in response to external pressures, rather that they were formed on the basis of domestic assessments of domestic circumstances to serve domestic interests. They go on to illustrate that such decisions are made on the basis of what policymakers perceive are the nation's best interests, and thus constitute dynamic interplay between national priorities and the interests of institutional and non-institutional actors in the policy arena. Fulfilling the demand for further research on how China formulates exchange rate policy, this book will strongly appeal to a wide-ranging audience including: students, academics and researchers with an interest in political economy, Asian studies, international relations, comparative politics, international business and international economics and finance. Policymakers and bankers will also find much to interest them in this book.

The Chinese Economy in Transition provides an analysis of the economic reforms introduced under Deng Xiaoping. It attempts to answer the question: what was the economic system that the Chinese were trying to reform and what approach have they adopted to reform it?Whilst the book focuses primarily on economic issues, it also explores the political and social environment and concentrates on three broad areas of the Chinese economy: agriculture, industry and macroeconomic management. Within these broad areas the focus is on two major themes: competition and cooperation, and central authority and regional autonomy. This book will be of special interest to senior undergraduate and postgraduate economics students, academics and China analysts.

Contents:
Part One: Introduction
1. The Nexus between Nationalism, Democracy and National Integration Leong H. Liew and Doug Smith
Part Two: Democracy and Chinese Nationalism
2. Barking Up the Wrong Tree: The Liberal-Nationalist Debate on Democracy and Identity Yingjie Guo
3. The Rise of Neo-nationalism and the New Left: A Postcolonial and Postmodern Perspective Mobo C.F. Gao
Part Three: Chinese Nationalism and Sino-US Relations
4. Chinese Nationalism and the Belgrade Embassy Bombing Ben Hillman
5. Chinese Nationalism and Sino-US Relations: The NATO Bombing of the Chinese Embassy in Belgrade Joseph Cheng and Kinglun Ngok
Part Four: Taiwanese Nationalism
6. Taiwan's Evolving Nationalism: Ideology for Independence C.L. Chiou
7. The Political Formation of Taiwanese Nationalism Chia-lung Lin
Part Five: Market, Democracy and National Integration
8. China's Minorities and National Integration Colin Mackerras
9. China's National Identity: A Source of Conflict between Democracy and State Nationalism Baogang He
10. Reaching Out to Taiwan, Keeping in Xinjiang: The Impact of Marketization and Globalization on National Integration Leong H. Liew
Part Six: Institutions Promoting National Integration
11. For National Unity: The Political Logic of Fiscal Transfer in China Shaoguang Wang
12. Nationalism, the Chinese Defence Culture and the People's Liberation Army Ji You