Macroeconomic data published recently is consistent with a healthy economy, driven by impressive wage growth and consumer spending, and supported by strong earnings growth.
In this article, we review those surprises and looks ahead to the economic and political challenges of the second half of 2017.
Foreign exchange (FX) reserves and currency
In early 2016, the media was full of predictions that by the end of last year, China would run out of FX reserves and its currency would devalue sharply against the dollar. Neither of those events took place, and this year FX reserves have risen and the renminbi (RMB) has strength.
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