A pig on a farm in Changtu county, Liaoning province, on January 17. China is the world’s largest consumer of pork, and thanks to the mass culling of pigs to stop the spread of African swine fever, domestic production is expected to fall at least 4 million tonnes below demand. Photo: Reuters
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

What El Niño, pork supply and steel production have in common – they all point to China needing a stronger yuan

  • All at once, the markets for pork, other agricultural products and iron ore face distortions, and China might be prepared to accept yuan appreciation to protect against the resulting commodity-related inflationary pressures

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A pig on a farm in Changtu county, Liaoning province, on January 17. China is the world’s largest consumer of pork, and thanks to the mass culling of pigs to stop the spread of African swine fever, domestic production is expected to fall at least 4 million tonnes below demand. Photo: Reuters
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The yuan seems to have halted the plummet it endured against the dollar in 2018, at least for the time being. Photo: Bloomberg
David Brown
Opinion

Opinion

Macroscope by David Brown

China shouldn’t count on currency stability to last. Rather, it should take steps to make the yuan a safe haven

  • While Beijing may breathe easier now than in 2018, global conditions remain uncertain, meaning China should hasten reforms to strengthen the yuan’s position as a reserve currency, to challenge the dominance of the US dollar

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The yuan seems to have halted the plummet it endured against the dollar in 2018, at least for the time being. Photo: Bloomberg
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