Will mass Chinese investment make UK Businesses internationally uncompetitive?

I will make this very brief, but I can’t make it brief enough to be a tweet.

If the Chinese Government is going to invest multi billions of Pounds Sterling (£) in the UK it will have to convert lots and lots of its currency (or US Dollars as I assume it has lots of these in its reserves) into lots and lots of these £s. Won’t demand for £s push up the value of Sterling on the international exchange markets thus making it harder for UK firms to win the contracts for supplying the materials, and for making and building the things the Chinese are investing in?

I assume that it could be argued that the additional demand for Sterling will be small compared with the total amount which is bought and sold on the international markets everyday. This may be true, and as these sort of questions and issues are not part of my day-job I haven’t got the time to do the research myself. But it would be nice to think that someone in the UK Government has considered this point, although doubt whether they have.

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