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AVAILABLE EXPERT – Devaluation of the Yuan

Tuesday, August 18, 2015

Queen’s University economics expert, Weili Ding, is available to comment on today’s devaluation of the Chinese Yuan, which caused a 6 per cent decline in the Shanghai Composite Index. The move has raised concerns regarding possible further devaluation and the likelihood of further market volatility.

“This round of Yuan devaluations and the resulting stock market dip, which usually respond positively to quantitative easing, were tied with increased capital outflow,” says Dr. Ding.

“Firms and individuals with a high amount of the currency in their assets will want to diversify into other currencies and assets in other countries to hedge against possible further Yuan devaluation, although I don’t think there will be another surprise from the People's Bank of China before the end of this year. You could also expect to see some of this money landing in the Vancouver real estate market and Toronto stock market soon”

Dr. Ding is available for radio and print media on Tuesday, August 18.

To arrange an interview, please contact Chris Armes at 613-533-6000 ext. 77513 or chris.armes@queensu.ca at Queen’s University News and Media Services Department in Kingston, Ont., Canada.

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