China’s currency struggles spell trouble across emerging markets

A weaker yuan has wider repercussions for emerging markets. (Image: Bloomberg)

Tue, 06 Sep 2022

By Karl Lester M. Yap and Tania Chen(Bloomberg) – Just months ago, the Chinese yuan was reigning supreme as emerging markets’ own haven asset, shielding investors from the turbulence of war and runaway inflation.Today, it’s turning into a threat.As growth sputters in the world’s second-biggest economy, its currency has tumbled to a two-year low and looks set for further losses. That’s pushing Goldman Sachs Group Inc. to SEB AB to predict shock waves not just in China’s neighbourhood but as far away as Af...

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