3 episodes of China capital flight:

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(i) the 2012 anti-corruption crack-down;

(ii) the 2014 unwind of short $/CNY carry trades;

(iii) “true” capital flight after the Aug. 11, 2015 step deval. The sheer size of the recent depreciation says to me that capital flight is likely back.


twitter.com/RobinBrooksIIF/status/1025496493250289665

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