Not So Fast! Red Ponzi's New Welcome Mat For Foreign Capital Exudes Desperation

Blame the yuan. As we've argued in the past, China was a hot investment destination in the past partly because of a stable currency. That safety net has been removed. Relatively attractive yields on Chinese bonds are no use if dollar-based investors expect one-way depreciation that will eat into gains. Overseas money managers will be right to be wary.




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