Stronger Renminbi Is Key to Chinese Rebalancing

China’s recent move to widen the renminbi’s trading band is unlikely to impact the near-term path of the currency, but we believe it represents another important step forward in the country’s financial liberalization. Below, my colleague Anthony Chan explains how a more flexible—and stronger—currency is a vital component of policymakers’ efforts to rebalance China’s export-dependent economy. (more…)

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