Contents

Feature

-Currency Wars, Again by Steve H. Hanke

In Brief

-Research Review by IMI Advisory Board Members

-Research Review by IMI Academic Committee Members

Research Report

-Challenges to Building the Offshore RMB Market by International Monetary Institute

Special Column on RMB and SDR

-Internationalization of the RMB by Yaseen Anwar

-IMF Decisions could Propel Renminbi past Sterling and Yen by Jukka Pihlman

Working Paper

-The Normalized CES Production Function: Theory and Empirics by Rainer Klump, Peter McAdam and Alpo Willman

-Risk-Adjusted Performance of Mutual Funds: Evidence from China by Gang Jianhua and Qian Zongxin

IMI News