Currency exchange is forming a crucial part of US-China trade negotiations, with the US keen to insert a clause that would limit Beijing’s ability to devalue the yuan, reports said. Photo: Reuters
China urged to avoid cautionary tale of Japan and the Plaza Accord in currency deal with US
- Plaza Accord in 1985 was signed under pressure from the United States desperate to stymie Japan’s economic rise
- Was blamed for helping usher in the ‘lost decade’, but analysts have backed China to learn from Japan’s mistakes
Topic |
China economy
Currency exchange is forming a crucial part of US-China trade negotiations, with the US keen to insert a clause that would limit Beijing’s ability to devalue the yuan, reports said. Photo: Reuters