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Solving the RMB Dilemma
The Chinese authorities face a range of challenges as they seek to protect the economy in the face of downward RMB pressure. In 2016 the Chinese authorities are assumed to have intervened in the currency markets, not in order to depreciate the RMB but actually to maintain the value of the currency. “The consensus from economists is that there’s going to be downward pressure on the RMB,” noted Shawn Baldwin, chairman of AIA Group, on the opening panel at Profit & Loss Shanghai.

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