China is rising but south-east Asia could benefit most

China has risen fast and accomplished much in 70 years of the People's Republic, but nothing rises smoothly.

Colossal tension besets the domestic economy and external relations. The Belt and Road Initiative has resuscitated the Silk Road and should, in time, reap trade benefits - but it has spread heavy debts. Domestically, trade wars and restructuring are biting into an economy already slowing hard. With the official fiscal deficit already 4% of GDP, room to stimulate is limited. Debt has breached 300% of GDP and China now spends 39% of annual GDP on debt repayment, making the central bank reluctant to encourage more lending.  How will renminbi movements affect other Asian currencies? ...