Beijing needs to be vigilant on the currency front. The strength of the yuan in recent months partly reflects China’s impressive economic recovery from Covid-19 but the rise of the renminbi is not all about China. It’s also about the currency market’s wider and well-grounded disillusionment with the US dollar.
China’s own economic situation undoubtedly justifies some degree of yuan appreciation. But Beijing must also be mindful that when a rising renminbi is more a function of US dollar…Click Here For Original Article