Globalization, Polanyi, and the Chinese Yuan
Weas, David A.
McNab, Robert M.
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In 2005, China, seemingly in response to pressure from the international community, moved the Chinese Yuan from a hard peg against the U.S. Dollar to a valuation scheme against a basket of international currencies. Whether the revaluation of the Yuan was in response to U.S. domestic pressure rising from the increasing U.S.-Chinese trade deficit, manufacturing migration, rising concerns about globalization, is open to debate. This thesis examines the 2003 United States -- China Economic and Security Review Commission (USCC), international organizations, U.S. trade law, and technologic applications within the context of globalization to provide an alternate understanding of why the perceived pressure to revalue the Yuan was so quickly and vigorously pursued.
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