Home EnergyAlternative Sources of Energy More renminbi depreciation possible, Why China’s energy transition is so difficult, and more

More renminbi depreciation possible, Why China’s energy transition is so difficult, and more

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More renminbi depreciation possible

By Mark Sobel

Since mid-April, the renminbi has fallen sharply against the dollar in the order of 4% – the biggest renminbi move against the dollar since 2015. This depreciation has raised questions over whether China is seeking to gain trade advantage to offset economic weakness. A more relevant question is whether prolonged capital outflow could be triggered. It would be premature to draw a conclusion that China sees renminbi weakness as an answer to a softening economy. 

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By Chunping XieSince the power crunch in September 2021, the Chinese government’s stance on coal appears to have changed, emphasising energy security as the top priority. But why is it so difficult for China to accelerate its energy transition away from coal? 
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Seth Carpenter, global chief economist at Morgan Stanley, and Sonal Desai, chief investment officer for fixed income at Franklin Templeton, join Mark Sobel, US chairman of OMFIF, to discuss the May Federal Open Market Committee meeting and the state of the Federal Reserve’s toolkit. 
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