De-dollarisation is all the rage, and probably reflects the uncertainty and pessimism arising from volatile economic and geopolitical times. But it is n’t happening as people say
China is big and powerful, but its consumption per head is no higher than Peru. A ‘recession with Chinese characteristics’ is not out of the question. China faces its most serious economic challenges since Mao’s death in 1976
Just over a year ago a 3 per cent devaluation of the Chinese yuan against the dollar triggered panic in global markets amid fears about a faltering Chinese economy and an escalating currency war.