Chinese growth slowdown baked-in

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Great analysis from Nordea:

In 2021, China’s growth momentum cools off and the focus of global growth will temporarily move to other countries, which should be a negative factor for the CNY. In a longer horizon, China’s ambition continues to be high.

China’s main political event of thee year, the National People’s Congress, came to a conclusion today. In this note, we will shortly summarise what kind of economic policy stance we can expect from China in 2021 and what this implies for FX. In addition, we will go through the main points of the new five year plan. In sum,

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.