Conférence organisée par l'Association franco-chinoise de droit économique (AFCDE) et l'Ordre des Avocats de Paris (Formation continue)
Le 31 octobre 2012
LA CHINE MANIPULE-T-ELLE ILLEGALEMENT LE TAUX DE CHANGE DE SA MONNAIE?
par
Daniel
Arthur Laprès
Introduction aux régimes de taux de change
Avocat au Barreau de Paris
Barrister & Solicitor (Nova Scotia Canada)
Of counsel to Kunlun
Law Firm, Beijing, China
PLAN DE DISCUSSION ET SOURCES
Introduction aux régimes de taux de change
Régime de taux de change de la République Populaire de Chine (RPC)
Inventaire des normes internationales et nationales applicables à la gestion du taux de change
La Chine enfreint-elle ces normes?
Contexte économique
Publications de Daniel Laprès sur la Chine
Conférences de Daniel Laprès sur la Chine
Les régimes de change dans une économie mondiale de plus en plus intégrée, préparé par les services du FMI, juin 2000
Classification of Exchange Rate Arrangements and Monetary Policy Frameworks,
Douglas A. Irwin, Esprit de Currency, IMF, 2011
Régime de taux de change de la République Populaire de Chine (RPC) Regulations on Foreign Exchange System, Decree No. 532 of the State Council, reviewed and passed in the 20th executive meeting of the State Council on August 1, 2008, released and in force on that date
Introducing the State Administration of Foreign Exchange
Daniel Laprès, Special report: Foreign exchange regulations in China, DC Insight (The Trade Finance Quarterly of the International Chamber of Commerce - Paris), May 2010
Daniel Laprès, International Capital flows, Business Law in China, ICC, Paris 2008
Morris Goldstein and Nicholas R. Lardy, The Future of China's Exchange Rate Policy,
China to further reform RMB exchange rate regime, China Daily, July 19, 2010
Currency Agreement for Japan and China, Adward Wong, Natasha Singer, New York Times, December 26, 2011
Revisiting the Internationalization of the Yuan, Yongding Yu, ADBI Working Paper Series, No. 366 July 2012
Yuan Rises to Strongest Level Since 1993 on Stimulus Bets, Bloomberg, Kyoungwha Kim and Fion Lioni - Sep 28, 2012
SAFE Registration Procedures and Compliance Requirements in China, April 9, 2012 by China Briefing
Normes internation
ales
Fonds Monétaire International
Statuts du Fonds Monétaire International (FMI), articles IV, VIII et XIV
Article IV of the Fund's Articles of Agreement: An Overview of the Legal Framework, 2006
Review of the 1977 Decision on Surveillance over Exchange Rate Policies: Preliminary Considerations, Background Information, and Summing Up of the Board Meeting, July 19, 2006
Review of the 1977 Decision on Surveillance over Exchange Rate Policies, Further Considerations February 17, 2007, including The 1977 Decision on Surveillance over Exchange Rate Policies
Modernizing the Legal Framework for Surveillance, An Integrated Surveillance Decision, 2012
Manipulation of Exchange Rates in International Law: The Chinese Yuan, Erik Denters, November 2003
Manipulation of Exchange Rates, eToro
Organisation Mondiale du Commerce
Organisation Mondiale du Commerce: GATT 1947, articles XII, XV, XVI, XXI, Mémorandum d'accord sur les dispositions de l'Accord général sur les tarifs douaniers et le commerce de 1994 relatives à la balance des paiements, Mémorandum d'accord sur les rgles et procédures régissant le règlement des différends, article 26
Normes nationales (Etats-Unis)
Omnibus Trade and Competitiveness Act of 1988, Section 3004
Projet de loi adopté par le Sénat en 2011 mais pas par la Chambre des Représentants
Currency Exchange Rate Oversight Reform Act, Democratic Policy and Communications Center, Washington, October 3, 2011
Rapports du FMI
People's Republic of China: 2010 Article IV Consultation, Staff Report,Staff Statement, Public Information Notice on the Executive Board Discussion
Article IV Consultation, 2012
Spillover Report, 2011
Evolution du taux de change réel effectif jusqu'en août 2012?
US Department of the Treasury
Report to Congress on International Economic and Exchange Rate Policies
Semiannual Report on International Economic and Exchange Rate Policies - Appendix: Analysis of Exchange Rates Pursuant to the Act
Treasury delays report on currency manipulation, October 12, 2012
Les chefs politiques américains
Here's What Romney And Obama REALLY Plan To Do About China, Grace Wyler, Business Insider, Sep. 27, 2012,
Hatch calls for more details on China currency, Vicki Needham, 10/18/12
Union Européenne
The End of Europe's Long-standing Indifference to the Renminbi, Jean Pisani-Ferry, Note prepared for the Peterson Institute conference on China's exchange rate policy, Washington DC, 19 October 2007
France
Sarkozy ou Hollande au G20: la différence, paperblog, 21 juin 2012
Everyone wants to talk about currencies, China Financial Markets, January 9, 2010
G 20
Declaration of the Leaders of the G20, convened in Los Cabos on 18-19 June 2012.
A quoi va servir le sommet du G20 ?, JOL Press, 19 juin 2012
G20: les 5 surprises du communiqué final, Cyrille Lachvre, Le Figaro, 21/06/2012
Lobbys américains
U.S. Chamber Opposes Romney Vow to Punish China on Currency, Brian Wingfield, Sep 27, 2012
It's Not Currency That's Sapping U.S. Confidence in China, Elizabeth Dwoskin, Business Week, October 10, 2012
Currency Manipulation History Shows That Sanctions Are Needed, History Shows That Sanctions Are Needed, Robert E. Scott, Economic Policy Institute, April 28, 2010
China
China Denies It Manipulates Currency, Rebuts Romney Charge, Wall Street Journal, October 17, 2012
China Asserts Market Setting Currency Value, The Associated Press, October 14, 2012
Le débat des économistes
The External Impact of China's Exchange Rate Policy: Evidence from Firm Level Data, Barry Eichengreen and Hui Tong, IMF Working Paper, 2011
On the Renminbi: The Choice between Adjustment under a Fixed Exchange Rate and Adjustment under a Flexible Rate, Jeffrey Frankel, NBER Working Paper No. 11274, April 2005
China's Exchange Rate and International Adjustment in Wages, and Interest Rates?, Ronald McKinnon and Gunther Schnabl, CESIFO Working Paper N 1720, 2006
Michael Pettis, China Financial Markets: The RMB and the magic of accounting identities, April 28, 2010; What the PBoC cannot do with its reserves, February 22, 2010
Paul Krugman, Taking On China, New York Times, March 15, 2010; Holding China to Account, New York Times, October 2, 2011
Les données actuelles
Dossier Statistiques, Compilé par Daniel Laprès, 2012
Also Sprach Analyst, Changing pattern of China's money flows, 30 October, 2012; PBOC's balance sheet is doing the opposite of what the Fed is doing, 20 September, 2012; Charting central banks' balance sheets, 20 September, 2012
BoP until you drop, For the first time since 1998 more money leaves China than enters it, The Economist, Aug 4th 2012
US Treasury, Statistics concerning foreign holdings of US securities, 2011
Banque Centrale Européenne, Balance des paiements de la zone euro, Octobre 2012
China's reserves and the PBoC's balance sheet, Financial Times, January 16,2011, Claire Jones
A PBoC balance sheet primer, Daniel H. Neilson on July 05, 2011
Taux de change du renmin bi aujourdhui
Tableaux de bord
Macroéconomie
chinoise au plan international
Commerce
extérieur de la RPC - OMC
FMI,
page index concernant la Chine
FMI, World Economic Report 2012
Asian Development Bank, 2011
Livre Business
Law in China: Trade, Finance, and Investment
Articles The Reform of Arbitration in France and its Implications for the Enforcement of Awards Involving France and the People's Republic of China
La gestion des actifs étrangers de la Chine
The role of foreign lawyers in CIETAC arbitrations
Regulation of Financial Institutions in the People's Republic of China
La protection des dessins en droit chinois
Trade finance in China
L/Cs, collections, guarantees and other instruments in the PRC
Le risque pénal dans les relations d'affaires avec la République Populaire de Chine
Actualités du commerce électronique en Chine
La gouvernance des entreprises en Chine
Le
droit du commerce électronique en République Populaire de
Chine
The
EU_China WTO Agreement Compared with the US-China Agreement
La Chine est-elle coupable de dumping social?
Le droit de l'arbitrage en République Populaire de Chine
La protection juridique des investissements étrangers en Chine Les aspects juridiques de la création de valeur entre la France et la Chine
La gouvernance des entreprises en China
Actualités droit du commerce électronique en Chine
Cabinet d'avocats
(text
in Chinese)
