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