China Doesn’t Want a New Currency War. Beijing Won’t...

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2024-05-08 16:11:50 - Translate -

China Doesn’t Want a New Currency War. Beijing Won’t Devalue the Yuan.

There are many reasons to lie awake worrying about the Chinese economy. A big devaluation of the yuan is not one of them. Chinese leader Xi Jinping’s paramount goals are to strengthen national security and shore up the Communist Party’s legitimacy. To achieve them, he badly needs to put growth on a sustainable path without adding to the country’s already excessive debt....

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