The Chinese monetary authorities let the yuan slide past the key level of 7 per US dollar in August. Photo: Reuters
Yu Yongding
Opinion

Opinion

Yu Yongding

Why Trump picked the wrong fight with his designation of China as a currency manipulator

  • The Chinese central bank’s decision to let the yuan fall below 7 per US dollar had little to do with trade or currency wars. Rather, it represented an important step towards reforming China’s inflexible exchange-rate regime

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The Chinese monetary authorities let the yuan slide past the key level of 7 per US dollar in August. Photo: Reuters
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