The virus-led global scramble for dollars bypasses China
Huge forex reserves and tight capital controls are among factors that have helped create a buffer against dollar funding stress in China
18 March 2020 - 13:47
Shanghai — A frenzied global scramble for dollars fueled by concerns over the deepening coronavirus pandemic has mostly passed over China, even as other central banks roll out extraordinary funding operations.
Huge forex reserves, tight capital controls and the collapse of outbound tourism due to the spread of the virus are among factors that have helped to create a buffer against dollar funding stress in the world’s second-largest economy, analysts and traders say...
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