China’s yuan has appreciated against the non-dollar CFETS RMB Index since October, even as it dropped against the US dollar. Photo: AP
Aidan Yao
Opinion

Opinion

Macroscope by Aidan Yao

Beijing tightens capital controls to manage stability risk

The surging US dollar has presented Chinese officials with difficult policy choices

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China’s yuan has appreciated against the non-dollar CFETS RMB Index since October, even as it dropped against the US dollar. Photo: AP
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