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	Podcast:		People In the Know
	Episode:		China Warns George Soros against Betting on Chinese Currency
	Category:		News & Politics
	Duration:		00:25:00
	Publish Date:		2016-01-29 01:46:29
	Description:		China's state media has warned billionaire investor George Soros against betting on falls in the value of the Chinese Yuan and Hong Kong dollar.The opinion piece in the People's Daily overseas edition said China's economic fundamentals remain sound, despite slower growth, volatility in the stock market and the yuan's depreciation against the U.S. dollar.Soros told Bloomberg TV on Thursday that he sees a hard landing for China's economy contributing to global deflation, and has been betting against the S&P 500, commodity-producing countries and Asian currencies, while buying U.S. government bonds.China's central bank has pledged to keep the yuan basically stable against a basket of currencies. At the same time, Hong Kong's central bank has said it has no plans to change the Hong Kong dollar's peg to the U.S. dollar, despite recent market volatility.So how do experts assess Soros' recent remarks? And how can China steady itself against market volatility? PIK speaks to Professor Zhang Jun, Dean at the School of Economics, and Director at the Center for Chinese Economy, Fudan University in Shanghai, and Victor Gao, Chairman of China Energy Security Institute and Winston Wong, Managing Director of Shipstone Group Limited.
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