China Said to Plan to Ask U.S. on Fed Rate Hike Timing

The transcript discusses the potential impact of a Federal Reserve rate hike on global markets, particularly focusing on China's concerns. The Chinese authorities are worried about the downward pressure on their currency and potential capital outflows. They plan to address these issues during the upcoming US-China Strategic Economic Dialogue in Beijing. China seeks reassurance from US officials to communicate any rate changes well in advance to avoid market shocks. They also express a preference for a rate move in July rather than June.

How does the Fed rate hike potentially affect capital flows from China?

What message are Chinese authorities trying to convey to their Western counterparts?