China continues to enjoy rapid export-led growth. As part of its growth strategy, China engages in heavy foreign exchange market intervention in order to keep its currency pegged to the U.S. dollar. This policy is now coming under increasing fire by China's trade partners, including the United States, Japan, and the European Union, who contend that China is gaining an unfair international competitive advantage at the expense of their economic growth and employment.

The seminar will focus on China's policy options, especially in the area of currency management and trade liberalization. It will also examine China's entry into the World Trade Organization, the state of the Chinese banking system, and the measures needed to strengthen the balance sheets of China's troubled state enterprise sector.