Trade barriers could see RMB weaken in retaliation – panellists

China dealt with unpredictability of US administration by letting RMB appreciate, but a trade barrier could reverse this trend

renminbi-notes
Going too far: China's patience could run dry if the Trump administration goes ahead with trade barriers

If the US administration goes ahead and implements trade barriers with China, the renminbi’s exchange rate against the dollar could see a sharp reversal as Chinese policymakers retaliate by putting an end to the appreciation trend seen over the past six months, panellists at the 13th annual FX Week Asia conference said.

Richard Jerram, chief economist at the Bank of Singapore, told delegates that as the US has shifted from a framework of predictability to a transactional policy stance, China

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