To exit, they sell their renminbi to buy dollars, increasing the supply of yuan, driving down its price (in terms of dollars). Note that the vertical axis runs from a high of 6.2 yuan/dollar (16.1¢) to a low of 7.2 yuan/dollar (13.8¢). See earlier post, Time to run for the exits in China?, where I pre-register these hypotheses.
If this article is right, look for a devaluation of the yuan, and an appreciation in Bitcoin.
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