28.04.2015 - China’s Currency Move Is Sign of Larger Struggle in Yuan
Look no further than trading in the Chinese yuan if you want to see how challenging coming years are likely to be for China’s policy makers and the global economy. The yuan has risen against the dollar this year despite growing slack in the Chinese economy and the pain a strong currency inflicts on its export sector. The gains reflect the scarce options facing Beijing as it shifts from an economic model centered on exports and subsidized investment to one where growth is fueled by consumer spending. Everyone—China, the U.S., the entire world—needs that transition to happen, but it won’t be easy...............................................Full Article: Source
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