Albert Edwards: The PBoC Is Running Out Of Time Only "Months Left" To Stop Collapse
China's FX reserves could fall to $2.8 trillion, the lower end of the IMF's recommended range within a few months, which could spark a tidal wave of speculative selling, forcing the People's Bank of China (PBoC) to throw in the towel and let the market decide the level of the renminbi exchange rate -- that's according to Société Générale's perma-bear Albert Edwards.
In this week's issue of Société Générale's Global Strategy research note, Edwards writes that "China has
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