Will the Renminbi Devalue?

The Renminbi surprised the world markets by its unexpected devaluations first in August 2015 and then in January 2016. The author argues that the Renminbi is unlikely to devalue abruptly and significantly going forward, even though there may be small fluctuations in the Renminbi exchange rate.

Lawrence Lau Professor of Economics, the Chinese University of Hong Kong via CHINA US Focus http://ift.tt/1Lu5mi9