Paul Cavey
Paul Cavey
accelerate coming driven expectation food inflation prices quite rest rising understanding year
Our understanding is that this was driven by food prices rising quite sharply and non-food prices coming off, where our expectation for the rest of the year is for food price inflation to weaken and non-food prices to accelerate moderately.
building capacity coming structural
The structural building of China's capacity is coming to an end.
change currency domestic environment exchange growth interests investment picking policy pressure
Domestic pressure for currency change is strong, not because of what the U.S. is saying, but because it's in China's own interests to move. Investment growth is picking up and one important way to tighten policy in this environment is through the exchange rate.