The People’s Bank of China has responded to the latest renminbi depreciation pressure with a laudable policy of “benign neglect”. Photo: Reuters
The People’s Bank of China has responded to the latest renminbi depreciation pressure with a laudable policy of “benign neglect”. Photo: Reuters
Yu Yongding
Opinion

Opinion

Yu Yongding

China should keep focusing on growth and not worry about a weak yuan

  • The yuan has weakened significantly against the dollar multiple times since 2015, with the People’s Bank of China fighting to defend its value for fear of a collapse
  • But despite a sharp depreciation again this year, policymakers have held back, suggesting a stronger confidence in the Chinese economy

The People’s Bank of China has responded to the latest renminbi depreciation pressure with a laudable policy of “benign neglect”. Photo: Reuters
The People’s Bank of China has responded to the latest renminbi depreciation pressure with a laudable policy of “benign neglect”. Photo: Reuters
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