Yide Qiao: Reminbi Liberalization and China's Economic Challenges

The recent events in the Ukraine and Russia have exposed the fragility of emerging markets around the world. Yet, as important as these events are from a geopolitical perspective, looking at the global economy China is still what matters most because it has become such a locomotive for the emerging world.

At the beginning of the year George Soros said that China's economy might be the crisis of 2014. This sentiment took hold in the financial markets, helping to trigger the break in emerging market currencies and stock markets in January and early February, which had a contagious effect on the global financial market as a whole.