Weakest Yuan Since 2008 Puts Spotlight on China Capital Outflows
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How much further will China’s currency fall after it touched the weakest level in a decade on Tuesday?
The answer may depend in large part on whether Beijing can keep capital outflows under control. Official figures released over the past few weeks suggest money is increasingly leaving China’s borders, a reminder that motivated citizens and companies still have ways to get their cash out despite a tightening of capital controls after the country’s shock devaluation in 2015.