| To reform or not to reform: That is the question in China these days. The country is weighing a key decision over whether to simply loosen restrictions on its highly controlled capital account, or to make the yuan, also known as the renminbi (RMB), or “people’s money,” a fully convertible international currency.
Beijing’s dilemma over whether to accelerate the slow evolution toward full convertibility sharpened in August when the government devalued the yuan by almost 2%, catching the markets by surprise...............................................Full Article: Source
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