Citigroup Says PBOC Has More Flexibility to Let Yuan Weaken

The video discusses Mr. Patel's insights on the onset of currency wars and the potential for austerity in emerging markets. It highlights the impact of US monetary tightening on emerging economies, leading to capital outflows and weakened exchange rates. The discussion also covers the renminbi's depreciation and China's measures to manage its exchange rate without destabilizing its capital account.

What measures did China take in late 2016 and early 2017 to manage capital outflows?

In what way does the current situation of the renminbi differ from previous concerns about capital outflows?