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Nice ASCII. But surely this is a function of USD vs other currencies, as CNY is mainly fixed against USD.
by zhte415 11y ago
Nice ASCII.
But surely this is a function of USD vs other currencies, as CNY is mainly fixed against USD.
- vegabook 11y agoAbsolutely. But with the current peg, where USD goes so the CNY goes. Given that only 20% of Chinese exports are to America, China is becoming uncompetitive on its trade-weighted basket and must adjust in the same direction as other currencies, that is, weaker vs USD.