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Chinese export growth slowed more than expected in August, as reality catches up after reopening. Export growth should continue to weaken, and import compression looks mostly played out. This means that the last support for the renminbi is crumbling, at a pivotal moment.
Pantheon Macroeconomics with the note.
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Headwinds are Building for the Renminbi, as Exports Face Reality
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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