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China's Control of Yuan and Liquidity Stress
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China's control over the daily yuan fixing has reached a level unseen for over a decade, raising concerns about a potential currency pressure buildup. The country's financial regulators are investigating a liquidity crunch that caused short-term money rates to surge to record highs. The Chinese yuan is being pressured by the biggest capital exodus since 2016, leading to a decline in the currency. The PBOC is ramping up liquidity support to the banking system to alleviate stress in the market. The yuan may see volatility during the Golden Week holiday, potentially exacerbating capital outflows.
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How might China's tight control over the yuan impact the global economy?
How might the capital outflows affect China's economy and financial markets?
What measures can be taken to address the liquidity stress in the Chinese banking system?
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