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Higher U.S. rates and the reset of Chinas annual FX quota loom large.
U.S. companies with more than $228B invested in China are likely to push back to protect their own interests.
China's currency weakened by capital outflows.
Authorities are delinking yuan from dollar, focusing on basket.
China's total debt has ballooned in the last decade, putting it at risk of a painful deleveraging.
Emerging markets including China have seen a boost since Brexit demonstrated risks inherent in developed-market investments.