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|KUALA LUMPUR Damen Nike Air Max TN Rosa Weiß Billig , Aug.1 (Xinhua) -- China's Renminbi (RMB) is expected to regain its momentum as U.S. dollar is likely to remain weak and the Belt and Road Initiative may drive the demand of RMB, economists said here Tuesday.
JP Morgan (China)'s senior economist Grace Ng told a banking conference in Kuala Lumpur that the macro backdrop for RMB has been gradually improving as the global economy is starting to improve and the greenback is expected to stay weak.
"As the U.S. dollar started to weaken against many currencies in the first half, we don't see the return of significant dollar strengthening as we saw in the previous two to three years," she said.
The global economy, which is in recovering path, will also boost China's export sector Air Max TN Herren Nike Schwarz Rot Schweiz , which in turn would create a more stable condition for the country and its currency, she added.
The event was organized by the Asian Institute of Chartered Bankers and China's Tsinghua University.
Concurred with Ng, BNP Paribas Asset Management (Hong Kong)'s senior economist Chi Lo opined that the RMB will regain its confidence from investors if the U.S. dollar remains weak.
According to Bloomberg statistics, the U.S. dollar has depreciated 3.25 percent to 6.71 against RMB year-to-date.
"I believe at the end of this year, the U.S. dollar against the RMB could trade even below 6.7. By next year, the RMB may strengthen another 2 percent further Air Max TN Herren Nike Schwarz Blau Kaufen ," Lo said.
Lo also sees the increasing trades demand as the major driving force for RMB, especially with the implementation of the Belt and Road Initiative.
China-proposed Belt and Road Initiative aims to build trade and infrastructure networks connecting Asia with Europe and Africa on and beyond the ancient Silk Road routes. It comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
"When China expands its trade network via the Belt and Road Initiative, using RMB will be quite natural; assuming the trading partner to accept RMB is also logic," Lo added.
He does not discount the possibilities that RMB would become the third largest global reserve currency in three years' time.
RMB accounted for only 1.2 percent of global reserve currently, he said.
HSBC (Hong Kong)'s Greater China foreign exchange trading's head Ben WP Lim shared the same view that the RMB internationalization will regain its momentum, underpinned by the Belt and Road Initiative.
"I am quite confident the (RMB internationalization) process will be speeding up in the next three years Nike Air Max TN Herren Weiß Schwarz Kaufen , and we will see the increasing usage of RMB in offshore market," he added.
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BERLIN, Sept. 26 (Xinhua) -- Confidence in German economic prospect is fading due to weak global growth and geopolitical tensions, as recent surveys showed on Friday.
German consumers, enterprises, investors and economists agreed increasingly that German economy Kaufen Herren Nike Air Max 95 Weiß , the largest one in Europe, was losing momentum and might miss its growth target this year.
Market research institute GfK said on Friday that its forward-looking indicator for German consumer morale for October was expected to drop for the second consecutive month.
Consumers' confidence in economic outlook in September, as well as their income expectations and willingness to buy, also worsened, found the GfK's survey based on 2000 interviews.
"According to consumers, the ongoing tense geopolitical situation and economic weakness in a number of eurozone countries are likely to have a greater impact on the German economy in future Bestellen Damen Nike Air Max 90 Leder Weiß ," said the institute in a statement, adding that "the first signs of uncertainty are beginning to show among German consumers".
On Thursday, Ifo, the economic think tank in Munich, also found German companies were no longer confident that German economy would grow strongly in the second half of the year, as its business climate index in September dropped to its lowest level since April 2013.
"The economic climate is still characterized by great uncertainty. The risk of a sanction spiral with Russia continues to exist and economic activity in the eurozone remains disappointing Herren Nike Air Max 97 OG GS Weiß Bestellen ," said Clemens Fuest, president of Center for European Economic Research (ZEW) in Mannheim earlier this month.
ZEW's index for investors' confidence, another important indicator for economic outlook, decreased for the ninth consecutive month in September.
Confidence is important for an economy, as it would affect economic decisions and activities in the future.
"Should the crises escalate further, a deterioration in the general conditions in Germany Nike Air Max 97 Undefeated Militia Grün Günstig , which have so far remained excellent, cannot be ruled out. In this case, there is a danger that private consumption would no longer fulfill its role as a key pillar of the German economy," said GfK in its Friday report.
In the second quarter of 2014, Germany's gross domestic product (GDP) contracted by 0.2 percent, following a growth of 0.7 percent during the three months from January to March. Consumption was the only positive contributor for GDP growth Nike Air Max 97 Undefeated Sail Weiß Kaufen , according to German Federal Statistical Office.
German government currently forecast economy to expand by 1.8 percent this year and by 2 percent in the next. Economists, however, were less optimistic.
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