Key Takeaways In this report, we discuss why we think RMB appreciation will be more limited than the emerging consensus, and why it would not help ease deflationary pressures and rebalance the economy. Asia Economics | Asia Pacific M Idea The Viewpoint: China: Will RMB Appreciation Help Rebalancing? We disagree with the emerging view that RMB appreciation will help in rebalancing China's economy. A meaningful RMB appreciation would hinder the exit from deflation, hit corporate margins, and slow wage growth. ...