A Cheaper Currency Can’t Rescue the Chinese Economy
The latest figures show that China is putting paid to the simplistic story that a cheaper currency on its own boosts exports. Don’t be fooled. The performance of the Chinese economy over the past year is a demonstration of the truth of that.
Since Aug. 11, 2015, when the People’s Bank of China, the central bank, abruptly depreciated the renminbi by 1.9 p…
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