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China’s yuan policy hangs in the balance

First published: Nikkei Asian Review, 11/01/2016

The calm of the holiday season has quickly given way to frenetic activity in financial markets, largely focused on China. A certain sense of deja vu of events that happened last August shrouded developments in Chinese equity markets in early January. But for Asia and the world economy, movements in the yuan will have far greater impact.

Markets would be well-advised to keep their attention focused on economic and financial developments that have a bearing on the yuan. More than that though, new uncertainties about the behavior of the yuan are coming from the conflicted situation in which the People’s Bank of China finds itself, and the interplay between deeper economic and political tensions in China….Read more: