| China was well into an intended transformation toward a consumer-driven economy when Japan, fittingly enough, threw a wrench into the works. The latest iteration of the “Abenomics” stimulus measures, on top of news of recurring recession, drove down the value of the Japanese yen against the Chinese yuan (or renminbi) by 15% this year.
Of course, the rest of Asia was affected as well, and the business press noted other countries scrambling to keep their currencies from getting out of whack with the yen. But China has held firm so far, basically remaining stable against the U.S. dollar since June...............................................Full Article: Source
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