Amazon.com description: Product Description: The author of this book is the original proponent of China's exchange rate system reform announced in 2005. This book discusses: The transitional, medium-term and long-term designs of the reform China's achievements and mistakes on the reform China's banking reform and its lessons to other emerging economies Maintaining a certain trade surplus as a dynamically optimal choice for China China's stock market bubble and the gradual bubble squeezing strategy China's property inflation and its solution China's fiscal and monetary policies during and after the global financial tsunami Risk of global asset inflation, Cpi inflation and cycle of exchange rate after the financial tsunami Likelihood of an asset bubble and then a crisis in economies outside the Us during the overheated phase of the recovery Through these discussions, the author hopes to share his knowledge on macroeconomic policy management accumulated over the past thirty five years. In particular, he would like to share his insights on macroeconomic policy management before, during and after an asset inflation era or a crisis period. He would also like to warn policy makers and financial investors on the likelihood of an asset bubble and then a crisis in economies outside the Us. The author hopes this book could eventually stimulate the emergence of “macroeconomic policy management” as a new and important discipline in economics. While the focus of the book is on macroeconomic policy management, it also offers important lessons and strategies on share and property investments. Thus, economists, policy makers, central bank officials, economics students, business and finance professionals, individual investors and academia in other disciplines will find the book useful.