A surge in protectionism driven by a persistently weak Chinese renminbi remains a wildcard for the global economy that should not be discounted, according to Jupiter CEO Edward Bonham Carter.
Speaking at an event for private clients this week, Bonham Carter said investors should keep in mind possibilities such as tensions between China and the US increasing once again. The gradual appreciation of the renminbi, long encouraged by the US, was tempered last December due to fears over Chinese growth and slowing exports. While an upwards trend has resumed in 2012, Bonham Carter said noises from Chinese policymakers suggest a renewed determination to limit the renminbi's rise this year. "There is still the possibility of more protectionism. If China does not revalue its curre...
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