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

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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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