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A fixed exchange rate

A. Move away from a fixed exchange rate, continued stability with respect to the U.S. dollar (Jul 2005 – Jul 2015)

B. Attempt at increasing flexibility, market turbulence, followed by managed depreciation (Aug 2015 – Dec 2016)

Pages 3&4: Summarize the following sections from the attached report:
III. POLICY ISSUES
A. What should China’s exchange rate regime be in the medium to longer-term?

B. Fear of floating – Is China different?

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