A sculpture representing the renminbi and an abacus is seen in Guangzhou on Thursday. In the long term, a stronger renminbi could be good news for China. Photo: EPA-EFE
David Brown
Opinion

Opinion

Macroscope by David Brown

A weak yuan will help strengthen China’s coronavirus-battered economy, but only for now

  • Beijing has the strong US dollar to thank for making its exporters happy by keeping the renminbi soft
  • But economic and political risks in the US may yet end the dollar’s rally, which would leave Beijing in a dilemma about whether to intervene. It should not
A sculpture representing the renminbi and an abacus is seen in Guangzhou on Thursday. In the long term, a stronger renminbi could be good news for China. Photo: EPA-EFE
READ FULL ARTICLE