Benn Steil
Director of International Economics at the Council on Foreign Relations and author of The Battle of Bretton Woods
Benn Steil is Director of International Economics at the Council on Foreign Relations and author of The Battle of Bretton Woods.
Jun 30, 2017
The RMB’s fall against the dollar reflects the slowing of China’s debt-fueled economic growth and the accumulation of default risks. Chinese residents and companies are, not surprisingly, seeking new ways (legal and otherwise) to move money out of the country.