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They have in the past (to fuel/build their export-driven economy), but I think things might have changed recently with the trade war.
by CharlesColeman 7y ago
They have in the past (to fuel/build their export-driven economy), but I think things might have changed recently with the trade war.
- dragonsh 7y agoTrade war is one reason, other is external debt in USD. This is explained in great details in article that China needs 100 billion dollars every year to service its external USD debt. So they don't want to let CN¥ fall in value significantly.
- simonh 7y agoThe really pivotal change was the financial crisis. Before that the Yuan was at over 8 to the dollar.