A year ago, many experts expected 2023 to be a banner year for the Chinese economy, but circumstances unfolded differently, with the Chinese currency landing in hot water. However, challenging periods can be the right time to add a new asset to your portfolio. Let's assess the potential of the Chinese yuan as a viable component of your investment strategy.
The USD/CNY movements over the past five years also prove that these days' case is exceptional. To put this in perspective, even the challenges posed by Covid-19 in 2022 didn't cause so much damage to the currency exchange rate. At the same time, the situation in China was frankly bad. The country lifted its Covid restrictions much later than most others, and market expectations for a rapid economic rebound were not met. Instead, the country was hit with a massive crisis in its real estate market marked by discussions of developer bankruptcies that persisted after the Covid-related hiatus.
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