Bundles of yuan banknotes at the Ninja Money Exchange in the Shinjuku district of Tokyo on June 9. China’s economic woes, coupled with rising interest rates in the US and higher commodity costs, have caused a rapid depreciation of the renminbi against the US dollar. Photo: Bloomberg
Opinion
Opinion
China’s economy faces headwinds, but don’t fear another 2015 crisis
- While sharp depreciation is unlikely, short-term pressures on the yuan will remain as China’s economy tries to rebound from the pandemic
- Market watchers should keep an eye on China’s central bank and see how it tries to maintain support while also supplying monetary stimulus
Bundles of yuan banknotes at the Ninja Money Exchange in the Shinjuku district of Tokyo on June 9. China’s economic woes, coupled with rising interest rates in the US and higher commodity costs, have caused a rapid depreciation of the renminbi against the US dollar. Photo: Bloomberg
