Markets appear to have all but given up on the idea that the renminbi will appreciate against the dollar over the next year. But we find nothing in the data on China’s real economy or in the outlook for the dollar to justify this view. We think that the renminbi will rise at an annualised pace of around 8% against the dollar between now and the end of 2009.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.