Tourists flock to the promenade on the Bund along the Huangpu River, seen against the skyline of the Lujiazui Financial District in Shanghai on a hazy day on May 29. The value of China’s currency has dropped sharply in the past two weeks, with some speculating that the fall was a gambit in the ongoing trade war with the US, but the People’s Bank of China announced it would defend the currency on July 3. Photo: AFP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

How a sliding yuan and volatile stock market have put China’s central bank in the hot seat

Nicholas Spiro says the US Federal Reserve seems determined to go ahead with monetary tightening but a sharp decline in China’s yuan might provoke a pause, as it did in 2015

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Tourists flock to the promenade on the Bund along the Huangpu River, seen against the skyline of the Lujiazui Financial District in Shanghai on a hazy day on May 29. The value of China’s currency has dropped sharply in the past two weeks, with some speculating that the fall was a gambit in the ongoing trade war with the US, but the People’s Bank of China announced it would defend the currency on July 3. Photo: AFP
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