In this episode of our Fireside Chats series we’ll be talking with Craig Chan our Head of Global FX Strategy, and Albert Leung our Asia Rates strategist, on their thoughts on RMB and China this year and beyond. We’ll be discussing what the dual circulation strategy means for RMB, the plans for internationalization of the RMB and how does this all fit into our outlook for flows in FX and rates markets.

00:00​ Introduction

01:10​ Recap on Dual circulation strategy (DCS)

02:35 The RMB and China's DCS

04:29 How will productivity growth feed into currencies

06:45 Productivity growth and rates outlook

09:05 The internationalization of RMB

11:50 What level of RMB ownership can we see from CB's

14:30 Invoice, deposit, and cross border demand for RMB

17:28 New Element of volatility in China curve

19:21 Rollout of digital RMB

20:29 State of FX flows

24:15 Risks to our Bullish overview

27:49 Investor key takeaways

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