RMB Devaluation and Global Markets

On Wednesday, July 3rd I hosted Robin J Brooks for a discussion about the RMB.

Robin is a Senior Fellow at the Brookings Institution, and formerly Chief Economist at the IIF and Chief FX Strategist at Goldman Sachs. He writes an excellent and free Substack which I highly recommend.

Some of Robin’s views may be controversial to some, especially his argument that the PRC has more leverage over the US in the trade war because it was the very slight devaluation of the RMB against the USD just after the April 2nd tariff “Liberation Day” that was the proximate cause of the US bond market going “yippy”, which ultimately forced President Trump to back down. We had a good back and forth on that topic.

I learned a lot from the whole conversation and I think you will too. And if you enjoyed it please “like” it and restack it on Substack, and send to your friends and contacts.

Thanks for watching.

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