is set to see further gains in the short term, according to UBS Global Wealth Management's Dominic Schnider.
The Chinese currency has strengthened significantly so far this year, and data releases continue to show the country powering ahead of its global peers in its recovery from theAs of Friday morning Singapore time, the onshore Chinese yuan sat at 6.6891 against the greenback, nearly 4% stronger since the start of the year. The Chinese currency's offshore counterpart — which trades more freely than the onshore yuan — traded at 6.689 per dollar. It has also gained almost 4% against the U.S.
, in a sign that the economy was picking up steam again. In comparison, other economies such as the U.S. and countries in Europe are not expecting year-on-year expansion until the first half of 2021. Secondly, China's current account surplus could grow to almost 2.8% of GDP in 2020 compared to 1% of GDP in 2019, the analyst said.
they've already given so much
1 Because Joe Biden can be rolled by China.
Because Traitor Biden sold the Country to the Chinese, for a couple Billion. They will manipulate their currency and get repaid quickly... Thanks Joe !! What a Guy !!
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