Hu, Baifeng2013-08-272013-08-2720052005http://hdl.handle.net/10393/25238This paper takes a comprehensive look at the issue of the RMB revaluation. It describes major policy changes in recent decades, analyzes the problem of the formation of the RMB, and estimates misalignments of the RMB. The misalignment of the RMB is not onen