Financial markets have watched anxiously as the yuan has neared an exchange rate of 7 against the US dollar. Photo: Kyodo Financial markets have watched anxiously as the yuan has neared an exchange rate of 7 against the US dollar. Photo: Kyodo
Financial markets have watched anxiously as the yuan has neared an exchange rate of 7 against the US dollar. Photo: Kyodo
David Brown
Opinion

Opinion

Macroscope by David Brown

Why yuan devaluation is not in China’s best interests and it’s time for Beijing to stop the free fall

  • David Brown says an adverse midterm election for Trump could see him push for a weaker dollar, resulting in a currency war that further rattles markets
  • A weaker yuan will intensify the Chinese economy’s focus on exports, in contrast to Beijing’s intention of concentrating on domestic consumption

Financial markets have watched anxiously as the yuan has neared an exchange rate of 7 against the US dollar. Photo: Kyodo Financial markets have watched anxiously as the yuan has neared an exchange rate of 7 against the US dollar. Photo: Kyodo
Financial markets have watched anxiously as the yuan has neared an exchange rate of 7 against the US dollar. Photo: Kyodo
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David Brown

David Brown

David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.