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China's currency is in the downward tumble. The Renminbi has lost one percent of its value. The Chinese currency has known only one direction: UP. But for about a week, the rate of the Renminbi (Yuan) against the US Dollar keeps falling. In contrast to other emerging markets. However, this is no capital flight, but a targeted intervention by the central bank PBOC.
The Renminbi is not fully convertible, it is under strict capital controls in the People's Republic. The PBOC is helpless. Any experience is missing. Is the system of the Communism bother at the end? China is not easy to understand - suffering at the same time to imbalances that are being caused by government side and the trial to compensate again. Nevertheless, a lack of liquidity is huge. Bankruptcies are frequent and billions are needed. The Chinese government has to keep the system liquid and is selling U.S. government bonds. All rates of the U.S. Trasuries decline and facing huge losses.
The Renminbi is not fully convertible, it is under strict capital controls in the People's Republic. The PBOC is helpless. Any experience is missing. Is the system of the Communism bother at the end? China is not easy to understand - suffering at the same time to imbalances that are being caused by government side and the trial to compensate again. Nevertheless, a lack of liquidity is huge. Bankruptcies are frequent and billions are needed. The Chinese government has to keep the system liquid and is selling U.S. government bonds. All rates of the U.S. Trasuries decline and facing huge losses.
