Here is an interesting item from the South China Morning Post worth checking out
It argues China will not accede to US pressure, it will continue to pursue its goal of economic growth as outlined in the government's "Made in China 2025" industrial development policy.
Says China FX reserves means it has plenty of US dollars to pay for imports of commodities through to technologies. But, if needed, it will anchor the yuan to gold, and may be already be doing so:
- over the past 18 months or so the yuan has become much more volatile against the US dollar, it has become far more stable against gold.
