'You can't properly trade China'

Rogge Global Partners is a $36 billion global fixed-income specialist based in London. Malie Conway, co-CIO and head of global credit, and Ranjiv Mann, head of economic research, explain why renminbi weakness needs to be carefully managed.

Q It appears the renminbi is going to decline in value some more. How do you play that

Conway We have very little risk on. You can’t properly trade China the authorities there can manipulate the level of the yuan. We think the Taiwanese dollar is a good proxy, though. It reflects the region’s fundamentals.

Q So you’re short the Taiwan dollar

Conway Yes,...