Aggregate demand is in short supply in most parts of the globe. The Chinese policy of halting the rise of the renembi against the dollar in 2008 was thus perceived by some as a 1930s style beggar-thy-neighbour policy. Commentators such as Paul Krugman, as well members of Congress, have argued that it is time to ?get tough? with China over its alleged exchange rate manipulation. In this Ebook, Simon Evenett, Co-Director of CEPR’s International Trade and Regional Economics Programme, has brought together some answers. The twenty eight chapters summarise the latest research on the behaviour of the renminbi and the role it has played in global imbalances, whether China’s exchange rate policy is consistent with WTO rules, and most important, the likely responses of China and its trading partners to the dispute over balances and exchange rate policies. The publication of the Ebook coincides with the original deadline for the US Treasury to determine whether the Chinese government is a "currency manipulator". Now that the US Treasury has postponed the publication of its report until just before the G-20 meeting in June 2010, the contributions to this volume are even more timely, since they will inform deliberations in the run-up to the important June summit.