China: Establishment of currency swaps
Description
China established currency swaps (Y 650 billion (US$95.2 billion)), to facilitate trade with: Argentina, Belarus, Hong Kong China, Indonesia, Korea, and Malaysia.
A currency swap is a foreign-exchange agreement between two parties to exchange aspects (namely the principal and/or interest payments) of a loan in one currency for equivalent aspects of an equal in net present value loan in another currency.
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | |
| Is there any evidence that alternatives to the proposed measure were considered? | |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | |
| Was such evidence identified? | |
| Is such evidence publicly available? | |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | |
| Did the government state its intention to review the measure within one year of implementation? |
Date Discovered:
Implemented: Yes
Date of inception: 2 Apr 2009
GTA Evaluation: Red
Source:
WTO. (November 2010). REPORT ON G20 TRADE MEASURES. Available at http://www.wto.org/english/news_e/news10_e/igo_04nov10_e.htm
Government Response:
- 360 reads
