David Lubin, head of Emerging Markets Economics at Citi-London, writes that China has put in place controls to prevent massive capital outflows.
For China's policymakers, a weaker renminbi "might be a tool to keep the current account deficit at a level that limits the country’s dependence on the kindness of strangers."
https://www.chathamhouse.org/expert/comment/weaker-renminbi-more-snub-trumpI post this because of recent interest in Andrew Foster's comments on China and interest in role of emerging markets in recessions or kicking off contagion effects. It's become less straightforward as emerging economies seek to immunize themselves.
