China’s challenges show Xi has only limited control over its economic levers – Sydney Morning Herald

The appreciation of the yuan its at its highest level against the US dollar for nearly three years isnt helping.
It also undermines the competitiveness of Chinas exports, albeit that it makes commodities, generally denominated in US dollars, cheaper and therefore helps on the inflation front.
China has a tightly-managed float of its currency, which is pegged daily within a two per cent plus-or-minus range against the US dollar. That hasnt, however, prevented the yuan from strengthening markedly…

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