- the yuan let's ask tom mackenzie. take it away. >> i am joined by the former managing director of the imf zhu min and former governing council member of the pboc, talking about foreign exchange reserves dip to just over that $3 trillion mark for december. when you are looking at that and the timeframe china has as it muddles through in the way it is handling the yuan, whether intervention, capital controls, or burning through fx reserves, how much longer has china got? i and the former deputy managing director of the imf. >> my apologies. >> thank you for giving me a big title. yes, foreign reserves have downsized. is a way to gradually reflects the market, the capital flow, and all those things. ismaintain the stability it gradually containing expectations are well received. two points are very important, the first issue is that $3 trillion is not a lien number. if the research drop, you may be facing a crisis situation, but if you compare, it is different. china's external debt is very low. i think that is very impo
tom mackenzie has the details. another round of spying, this will not end anytime soon, is it? it doesn't feel that way. this coming friday from a wall street journal interview with trump, saying he will not commit to the one china policy, a bedrock of u.s.-china relations since the 1970's, saying he wanted to see how china would act on trade, which he says has been unfair to the u.s., and on the currency before he makes any decision on that. this comes after comments questioning the one china policy and that controversial phone call from the president of taiwan in december, raising many eyebrows here and broke diplomatic protocol. we heard a strongly worded response from the chinese foreign ministry on saturday saying quite simply that the one ,hina policy was nonnegotiable and urging trump to recognize the sensitivity of the taiwan question. we heard stronger words from the state media, china daily saying that if he was to act on these comments once he is in office, china may be forced to take the gloves off. shery: that of course just one of the issues between the two sides.
Fetching more results