| China’s foreign reserves have soared to nearly $3.2 trillion as Beijing intervened in currency markets to control its yuan despite pledges to allow more flexibility.
The reserves rise as Beijing buys foreign currency to counter upward pressure on the yuan’s exchange rate due to an influx of export revenues and investment. Washington and other trading partners complain those controls are swelling China’s multibillion-dollar trade surplus and might be hampering a global recovery...............................................Full Article: Source
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