The RMB exchange rate is now much more affected by flows from the capital account than the current account
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Beijing is taking U.S. actions on Chinese internet companies more seriously but is unlikely to engage in tit-for-tat retaliation
Beijing started to reshuffle full-ministerial-level posts, marking the beginning of Xi’s preparation for the leadership transition
Chinese leaders are pleased with the pace of economic recovery and are less eager to push stimulus policies.
Xi has worked to systematically place officials with technical backgrounds in defense sector in key local government positions.