The Chinese renminbi has fluctuated widely this year, both against the dollar and its trade-weighted basket, and is on balance substantially down despite its recent uptick. Yet China’s current account surplus – in the order of 2% of gross domestic product – is quite large and its trade surplus burgeoning, which would normally buoy the currency. This has led some analysts to ask whether China might be seeking a lower renminbi to support external demand.
China renews its pitch to foreign investors By Herbert Poenisch Following the 20th Party Congress in October, underlying financial account developments help to explain the renewed effort by Chinese leaders to win back the trust of foreign investors. Read the full commentary here.
MEETINGS The OMFIF Asia forum Thursday 8 December, Forum OMFIF’s calendar of 2022 events culminates in the first-ever OMFIF Asia forum. Leading policy-makers, governments and financial institutions gather in Singapore to reflect on challenges and opportunities. Register to attend here.
ON DEMAND Assessing the 2022 G20 summit Michael Pyle, US deputy national security adviser at CSIS and G7 and G20 sherpa, joins OMFIF and the Centre for Strategic and International Studies to discuss the outcome of the 2022 G20 summit in Bali. Watch the video here.
