The RMB Weakness that Wasn't

Summary

In this episode the hosts dissect the recent breach of the 7.00 RMB per USD threshold, a move they had forecast despite official resistance. They revisit their earlier stance against a "balance‑sheet recession" narrative, argue that the fundamentals still support further yuan strength, and explore how different policy scenarios—including a potential U.S.–China détente—could shape the currency and Chinese equity markets through 2026. The discussion highlights which sectors and investors stand to gain or lose from a stronger yuan and updates their allocation framework accordingly.