RMB Exchange Rate Will Become More Volatile

For the Chinese monetary authorities, how to allow the market to determine the RMB exchange rate while preventing the depreciation from sparking a rout is a serious challenge. For the rest of world, how to cheer China on to let go the RMB exchange rate while watching RMB depreciation in a quite manner is an equally serious challenge.

Yu Yongding, Former President, China Society of World Economics via CHINA US Focus http://ift.tt/1PzQyey