Business
China might prove Trump right, forced to manipulate its currency after all – Sydney Morning Herald
A surge of capital inflows has pushed China’s currency to two-year highs, threatening its economic recovery and potentially forcing Beijing to manipulate the yuan….
When the threat posed by the coronavirus became evident earlier this year, with China its epicentre, the yuan depreciated about 3 per cent against the US dollar. Since May, however, it has climbed about 9.5 per cent against the dollar and about 4 per cent against the basket of its major trading partners.
That appreciation shows no signs of abating, even though Chinas authorities have started to tinker at the edges with measures that appear designed to take some of the heat out of demand for the…
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