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Albert Edwards Says Yuan Devaluation Was “Inevitable”

Chinese devaluation of the renminbi was expected in certain quarters – and it is just the start, says a leading bank analyst, as he eyes an endgame that points to continued weakness for commodities and Asian import costs.

As China makes a step towards reserve currency acceptance – and a growing choirs indicates that the move is being planned as part of easing into acceptance from the International Monetary Fund’s currency basket – along comes Societe Generale Cross Asset Research from perma-bear, Albert Edwards.

Albert Edwards: renminbi devaluation “inevitable,” and now "die has been cast”

The outspoken Edwards points to his previous call that renminbi devaluation was “inevitable,” he now says the “die has been cast” as he prepares for a deflationary wave.

It was a mere 18 months ago, before Donald Trump was a U.S. household name and the SDR currecy basket inclusion was only but a faint whisper, that Edwards that it “increasingly clear that this was the end game in the currency war.” Such finality isn’t a popular message and...


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