China – the great leadership shuffle

The Chinese Communist party’s top leadership will be reshuffled at the end of 2017. The most likely outcome is that President Xi Jinping consolidates his grip on power. While the new Standing Committee might communicate a more consistent policy line, the overall direction of Chinese economic policy and development is likely to continue to follow Xi’s ‘halfway house’ approach. So we expect the yuan to continue to depreciate, if at a more gradual pace.

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