CESifo Seminar Series -- Contents -- Contributors -- Series Foreword -- Preface -- 1 Introduction -- I China's Exchange Rate Policy -- 2 United States, China, and the Rebalancing Debate: Misalignment, Elasticities, and the Saving-Investment Balance -- 3 The Role of the Chinese Dollar Peg for Macroeconomic Stability in China and the World Economy -- 4 Permanent and Transitory Macroeconomic Relationships between China and the Developed World -- 5 China's External Position: Simulations with a Global Macroeconomic Model -- II Chinese Savings and Investment -- 6 How Much Do We Know about China's High Saving Rate? -- 7 Why Is China's Saving Rate So High? A Comparative Study of Cross-Country Panel Data -- 8 If You Try, You'll Get By: Chinese Private Firms' 'Efficiency Gains from Overcoming Financial Constraints -- III China's Monetary Policy and Capital Controls -- 9 Chinese Monetary Policy and the Dollar Peg -- 10 Offshore Markets for the Domestic Currency: Monetary and Financial Stability Issues -- 11 Crisis, Capital Controls, and Covered Interest Parity: Evidence from China in Transformation -- IV China's FDI and Quest for Resources -- 12 China's Outward Direct Investment and Its Oil Quest -- 13 China's Investments in Africa -- Index.