Chinese authorities let the yuan drop to its weakest level since March 2018, the seventh straight daily decline, on Friday. Photo: AFP

China’s yuan currency slides to fresh 11-year low, sparking fears of capital flight from Asia

  • China appears to be preparing to offset the impact of Donald Trump’s new US trade war tariffs, increasing fears of regional currency declines and further equity exodus
  • On September 1, the US is set to implement the first phase of a 10 per cent tariff on a wide range of Chinese manufactured consumer goods worth around US$130 billion
Topic |   China economy

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Chinese authorities let the yuan drop to its weakest level since March 2018, the seventh straight daily decline, on Friday. Photo: AFP
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Protests have taken place in Hong Kong since June 9, sparked by demands for the city’s government to withdraw an unpopular extradition bill. Photo: Reuters

Hong Kong’s US dollar peg could be a weak link if protests drag on, China scholar warns

  • Zhou Luohua, vice-president of the Chongyang Finance Research Institute at the Renmin University of China, says the peg could prove to be city’s ‘Achilles’ heel’
  • The Hong Kong dollar has been pegged at 7.8 to the US dollar since 1983, and has helped the city survive the Asian financial crisis and Sars epidemic
Topic |   Hong Kong economy

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Protests have taken place in Hong Kong since June 9, sparked by demands for the city’s government to withdraw an unpopular extradition bill. Photo: Reuters
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