The Conversation

Fans of a more open China should welcome the devalued yuan

Author: The Conversation

Undervalued or overvalued? It depends on your perspective.Jason Lee/Reuters

China wants to be an international player, and to be an international power it needs the Chinese yuan to be an international currency.

Tuesday morning’s announcement by the People’s Bank of China (PBC) that it was reforming its daily USD/CNY (Chinese yuan)...

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