In addition, he argues, Chinese firms might find it difficult to raise the large-scale funds they will need in the near future in the thinner-volume foreign markets.

CENTERFORSECURITYPOLICY: Center For Security Policy

The index is proportionally weighted based on foreign-exchange trading volume data from the Bank for International Settlements' triennial central-bank survey on global foreign-exchange market activity.

WSJ: WSJ, FX Trader Launch Dollar Index

However, in the first five months of this year the volume of foreign-investment approvals was more than a quarter down on last year.

ECONOMIST: A survey of Indonesia