Renminbi gains offer boost to foreign competitors: IMF paper

IMF headquarters in Washington DC

An International Monetary Fund paper, published on Tuesday, shows that the effects of a revaluation of the renminbi on foreign firms is generally positive.

The paper's authors, Barry Eichengreen and Hui Tong, use data on 6,000 firms in 44 economies to examine the impact of a renminbi revaluation on foreign firm valuations, in particular the effects of the two surprise announcements of changes in China's exchange rate policy in 2005 and 2010.

The authors find the reaction to the revaluation

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