Today’s GDP data confirmed that growth in Hong Kong stayed weak at the end of 2015. Although the government has unveiled a budget that should support growth this year, we don’t think it will be enough...

Swings in food prices around Chinese New Year will have caused inflation to jump in January. This pick-up may partly reverse this month but the bigger picture is that inflation still looks set to rise...

The idea that the People’s Bank is running out of FX reserves doesn’t stand up to scrutiny. But the fact that many take it seriously is a sign of how far sentiment has swung against China.

Many countries facing balance of payments strains have found that large outflows continue even after they tighten capital controls. China though stands a better chance of success. The capital account...