(MENAFN) In spite the recent depreciation against the U.S. dollar, the Chinese currency Renminbi is anticipated to keep stable with the backing of the Chinese economy and involvement of China's central bank.
In the period spanning over Jan-Oct in 2015, China's current account surplus was for 2.6 percent of its gross domestic product, while the U.S. current account deficit accounted for 2.75 percent of its GDP.
The 2nd largest economy could witness sluggish economic progress in the short term, but it still has the potential to uphold relatively high production growth, much more than that of the United States.
Moreover, even if the Yuan slightly devalues against the dollar; the synchronous depreciation of other currencies, some of which by a wider margin, will make it hard for China to rise its exports in the short term.
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