Economic Growth vs. Currency Defense: China’s Ongoing Predicament
November 7, 2016
The pile of money sloshing around China is causing headaches for regulators this week. As Hong Kong jumps on the property tightening bandwagon, China’s High Net Worth Individuals continue to move money to North American cities– which were recently reported as the most popular destination for HNWI assets. Meanwhile, a former SAFE official argues that economic growth should be prioritized over currency defense, a sign that bodes poorly for Chinese concerned about RMB depreciation.
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