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Currency War: U.S. Hedge Funds Mount New Attacks on China’s Yuan
Keywords:
Hedge funds betting against China's currency in Jan. 2016 puts Wall Street at odds with China's central bank's effort to manage the decline in the currency. Some hedge funds see a large drop in the value of the yuan in 2016-2017. China also faces the risk of large capital outflows. This is happening against the backdrop of China's effort to cut overcapacity in steel and other industries, manage large debt and the slowing economy, to shift towards a less export dependent and more domestic consumption oriented economy. Hedge funds are taking short positions against the yuan, as they expect China will need to recapitalize its banks considering the rapid acceleration in debt, leading to further depreciation in the currency.
China's 3.5% devaluation of the renminbi currency (the yuan) on August 11-12, 2015
08/10/2015
Grouped Articles
What China’s surprise currency devaluation means for its economy and the world - The Washington Post
Washington Post 08/11/2015
China Devalues Its Currency as Worries Rise About Economic Slowdown
New York Times 08/10/2015
Wall Street Journal 08/11/2015
China Yuan Fall Won’t Ease Pressure on Economy
Wall Street Journal 08/11/2015
China’s credibility on the line as yuan slides again, global markets slump - The Washington Post
Washington Post 08/12/2015
China is trying to save its economy with a cheaper currency - The Washington Post
Washington Post 08/12/2015
China's potential capital outflows in 2016-2017 if 1-2% of the urban population convert the max of $50,000 from yuan to dollars- $370 billion -$740 billion
01/15/2016
The most affluent of the $737 million Chinese in cities could become nervous about loss of value in the currency and convert up to the maximum of $50,000. This would lead to larger capital outflows than the PBOC has in mind., says Aaron Back of the WSJ in Jan. 2016. This worries the central bank PBOC, because the reserves of $3.3 trillion include illiquid investments such as loans to Venezuela on oil assets, the Asian Infrastructure Bank and other investments. With its large and aging population China also has to keep reserves for future Social Security and other plans.
Grouped Articles
China’s Jittery Savers Could Pose Capital-Flight Threat
Wall Street Journal 01/15/2016
Economist 01/19/2016
Currency War: U.S. Hedge Funds Mount New Attacks on China’s Yuan
Wall Street Journal 02/01/2016
China’s Forex Reserves Plunge to More-Than-Three-Year Low
Wall Street Journal 02/08/2016
Wall Street Journal 02/08/2016
China Stanches Flow of Money Out of the Country, Data Suggests
New York Times 04/07/2016
The People's Bank of China policy on the currency yuan in 2016
01/15/2016
Experts close to the central bank say the policy of the PBOC is to make it expensive for speculators to try to make gains on China's yuan currency. PBOC policy according to them is to allow for a modest depreciation and let the currency oscillate. When speculators hope to make gains the central bank intervenes to go the other way. The PBOC hope to limit outflows of capital, a problem in 2015, in this way.
Grouped Articles
Confused by China’s Yuan? It’s Intentional
Wall Street Journal 01/15/2016
China’s Jittery Savers Could Pose Capital-Flight Threat
Wall Street Journal 01/15/2016
Currency War: U.S. Hedge Funds Mount New Attacks on China’s Yuan
Wall Street Journal 02/01/2016
China Stanches Flow of Money Out of the Country, Data Suggests
New York Times 04/07/2016
The U.S. Treasury's view on currency values for Japan's yen and China's renminbi 2013-2016
05/17/2010
The U.S. Treasury says Japan should use monetary policy for promoting economic growth and not for gaining an advantage in international markets.
Grouped Articles
Wall Street Journal 04/18/2013
Japan Official Cites Fundamentals in Yen's Drop
Wall Street Journal 04/12/2013
Wall Street Journal 10/04/2011
Europeâs Debt Crisis Is Casting a Shadow Over China
New York Times 05/17/2010
The Long View of Changes in Chinaâs Currency
New York Times 09/21/2010
An Accord (and Lessons) to Remember
Wall Street Journal 09/21/2010
The renminbi or yuan as global currency.
05/17/2010
China's currency, the yuan or renminbi, and its acceptance as a global currency.
Grouped Articles
Europeâs Debt Crisis Is Casting a Shadow Over China
New York Times 05/17/2010
Brawny Yuan Stands Apart from the Crowd
Wall Street Journal 12/10/2013
The Long View of Changes in Chinaâs Currency
New York Times 09/21/2010
Wall Street Journal 09/01/2015
IMF Lifts Chinese Yuan to Elite Lending-Reserve Currency Status
Wall Street Journal 11/30/2015
China Steps Up, but Its Currency Still Has Dues to Pay
New York Times 12/05/2015
China's policy of gradually weakening the yuan in 2015-2016 and the risks in capital outflows, decline of the currency
01/10/2016
Grouped Articles
Why China Shifted Its Strategy for the Yuan, and How It Backfired
Wall Street Journal 01/10/2016
Chinese Official: Bets Against Yuan Are ‘Ridiculous and Impossible’
Wall Street Journal 01/12/2016
Confused by China’s Yuan? It’s Intentional
Wall Street Journal 01/15/2016
China’s Jittery Savers Could Pose Capital-Flight Threat
Wall Street Journal 01/15/2016
Economist 01/19/2016
Currency War: U.S. Hedge Funds Mount New Attacks on China’s Yuan
Wall Street Journal 02/01/2016
New dynamic for China's yuan in 2012- outflows of capital from China and weakening of the yuan
04/19/2011
Grouped Articles
Wall Street Journal 10/04/2011
Brawny Yuan Stands Apart from the Crowd
Wall Street Journal 12/10/2013
China Takes a Smoother Path to Currency Devaluation
Wall Street Journal 11/25/2015
China’s Renminbi Declines After Being Named a Global Currency, Posing Challenges
New York Times 12/18/2015
Why China Shifted Its Strategy for the Yuan, and How It Backfired
Wall Street Journal 01/10/2016
Chinese Official: Bets Against Yuan Are ‘Ridiculous and Impossible’
Wall Street Journal 01/12/2016
The People's Bank of China, China's central bank, and policies to widen the trading range for the yuan in 2014
02/27/2014
Efforts to lower the value of the yuan and widen the trading range in Feb. 2014 by the PBOC.
Grouped Articles
China Intervenes to Lower Yuan
Wall Street Journal 02/27/2014
In China, Shaking Up Currency’s Strength
New York Times 03/16/2014
Falling Yuan Curbs Cash Entering China
Wall Street Journal 03/20/2014
Crossing China's Big Red Currency Line
Wall Street Journal 03/21/2014
Deutsche Bank Economist to Join China's Central Bank
New York Times 04/09/2014
China Takes a Smoother Path to Currency Devaluation
Wall Street Journal 11/25/2015
China's renminbi joins the IMF's basket of reserve currencies, the dollar, euro, yen and pound, in December 2015
11/30/2015
Grouped Articles
China Steps Up, but Its Currency Still Has Dues to Pay
New York Times 12/05/2015
IMF Lifts Chinese Yuan to Elite Lending-Reserve Currency Status
Wall Street Journal 11/30/2015
Economist 12/07/2015
China’s Renminbi Declines After Being Named a Global Currency, Posing Challenges
New York Times 12/18/2015
Chinese Official: Bets Against Yuan Are ‘Ridiculous and Impossible’
Wall Street Journal 01/12/2016
Economist 01/19/2016
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