China Seems To Be Entering Zugzwang: Barclays

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Thanks to accelerating capital outflows, China’s policy makers are confronting choices that resemble the concept of zugzwang, in which any change in the status quo would weaken a player’s position. Ajay Rajadhyaksha and Jian Chang of Barclays point out in their Feb. 22 report titled “Cross Currency Research” that the concept of zugzwang as used in chess effectively highlights Chinese policy makers’ choices as they have to make a decision about the country’s currency and monetary policy in the next few quarters. China experienced massive over-investment cycle Rajadhyaksha and Chang note that when the Chinese economy slowed down sharply last summer, the…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports