Special Dutch version
While there will be a devaluation of the Chinese renminbi, the dollar will also become stronger more generally in 2016, due in part to the Fed’s interest rate increases. The ECB is more likely to do the opposite, which will weaken the euro/dollar currency pair further still. Slightly higher capital market rates can be expected though.
The recent plunge in oil prices will be a net plus for the global economy. The pain will be felt by major oil producers and for some this may cause serious problems. However, we still expect the global economy to gain more than the losers will lose.