a. Report on the history of the exchange rate of China's currency:

1. Was it fixed or flexible?
2. Was it ever pegged to a major world currency?
3. Is it currently fixed or flexible?
4. Is it freely convertible?

b. The United States recently labeled China a currency manipulator. Do internet research and find at least

1. One article that argues that this is justified
2. Another that argues that China is not currently manipulating its currency (even if it might have done so in the past).
3. Based on your research, in your opinion, is China current actively undervaluing its currency leading to current account surplus?

c. How does the Chinese government's changing policy toward the exchange rate reflect the rise of China over the years?

d. Describe Shanghai's role as a financial and trading center.