Tourists enjoy a banquet held along the edge of a cliff, at Laojun Mountain in Henan province, China. Amid the US trade war, China’s central bank has had to tread a careful path on monetary policy. Photo: AFP
Opinion
Opinion
Why China’s central bank is caught between a rock and hard place unless it allows the renminbi to float freely
Paola Subacchi says the complexity of dealing with the devaluation of the renminbi amid the trade war underlines the need for China to allow the value of its currency to be truly determined by market forces
Tourists enjoy a banquet held along the edge of a cliff, at Laojun Mountain in Henan province, China. Amid the US trade war, China’s central bank has had to tread a careful path on monetary policy. Photo: AFP