RMB tipped to depreciate against dollar
Jim Walker of Asianomics argues that, due to the euro’s troubles, the renminbi is actually going to weaken against the dollar in the short term, in a last-ditch effort to sustain Chinese economic growth.
Everyone trying to amass renminbi holdings in expectation of its supposedly inevitable rise against the US dollar may be in for a surprise.
Jim Walker, managing director at economic research boutique Asianomics, says the RMB is more likely to depreciate against the greenback, at least in the short run.
Speaking last week at AsianInvestor's institutional investment forum in Hong Kong, Walker argues that the sudden decline of the euro is creating difficulties for China's exporters. Th…
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