Renminbi Rises to 7.24 Amid Plummeting FDI and Taiwan Tensions
In China, we saw the Renminbi tick up to 7.24 against USD last week. The only data release of note showed a further 27% drop in annualised Foreign Direct Investment as China continues to struggle to convince global markets that it is a viable place to invest their money.
Published on 28 May 2024
China's currency gain contrasts sharply with a significant 27% drop in Foreign Direct Investment and escalating military drills around Taiwan, highlighting the nation's struggle to attract global investment amidst rising regional instability.
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