This is excerpt from our discussion on Belt and Road Risk in the London RMB Business Quarterly produced by the PBOC and City of London  ‘…the smiling family on the train in Kenya is not paying for the ride in USD.. they’re paying in Kenyan Shilling.  This creates an exposure to the Shilling exchange rate when it comes to being repaid or covering the coupon.  Let alone protecting the asset…. ‘
 
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