Abstract
It is generally known that the exchange rates in Soviet-type economies are disequilibrium exchange rates in the sense that without controls they do not tend to lead to a balance on the international current accounts. Of the two economies involved, it is also known that these exchange rates are unrealistic, in the sense that they have no relation to the gold content of currencies involved, if the currencies have a gold content, and that these rates do not reflect the relative domestic purchasing power of the two currencies on internationally traded commodities. In the case of the exchange rate between the Soviet rouble and the Communist Chinese yuan, even this disequilibrium and unrealistic exchange rate has in the main been veiled in secrecy since 1950. This secrecy has caused considerable difficulties in working with the Communist foreign trade statistics.
Publisher
Cambridge University Press (CUP)
Subject
Political Science and International Relations,Development,Geography, Planning and Development
Reference24 articles.
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2. For sources, see Appendix.
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