Brief Contents
Preface ....................................................... vii
About the Author .............................................. xxi
Acknowledgements ............................................. xxxv
Part I: China's Exchange Rate System Reform ..................... 1
Chapter 1 Macroeconomic Conditions and Debates Before the
Reform ............................................... 3
Chapter 2 Transitional and Medium-Term Designs of the Reform .. 17
Chapter 3 Supplementary Measures .............................. 31
Chapter 4 The Transitional Reform in 2005 ..................... 39
Chapter 5 Further Proposals on Supplementary Measures After
the Transitional Reform ............................. 71
Chapter 6 The Second-Stage Transitional Reform and Potential
Choices on the Long-Term System .................... 123
Part II: Macroeconomic Policies, the Stock Market and the
Property Market ............................................... 151
Chapter 7 China's Foreign Reserves, Trade Surplus, Outward
Investments and Overseas Assets .................... 153
Chapter 8 China's Stock Market Bubble and Lessons from the
Bubble Squeezing Strategy .......................... 167
Chapter 9 China's Property Inflation I: Root Causes and
Consequences ....................................... 203
Chapter 10 China's Property Inflation II: Recommended
Solution ........................................... 239
Chapter 11 Fiscal and Monetary Policies During the Global
Financial Tsunami .................................. 277
Chapter 12 Macroeconomic Outlook: Risk of Severe Asset
and CPI Inflation, Exchange Rate Cycle and Then
a Crisis Outside the US After the Recovery ......... 331
References .................................................... 391
Index ......................................................... 395
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