Despite recent stability in Chinese renminbi, concerns over the outlook for the currency persist across financial markets. The sudden devaluation of the currency in August last year, something many speculate was due to a sharp deceleration in economic growth, rattled financial markets at the time, causing widespread declines in risk assets across the globe. It was even enough to see the US Federal Reserve hold off lifting interest rates for the first time since June 2006. After the admission of the currency into the IMF’s special drawing rights (SDR) basket in late November, market concerns – already elevated – went ... (full story)