IMF to Brighten View of China’s Yuan - WSJ

IMF to Brighten View of China’s Yuan - WSJ The International Monetary Fund is close to declaring China’s yuan fairly valued for the first time in more than a decade, a milestone in the country’s efforts to open its economy that would blunt U.S. criticism of Beijing’s currency policy. The fund’s reassessment of the yuan—set to be made official in IMF reports on China’s economy due out in the coming months—follows years of IMF censure of Beijing’s management of the currency. The IMF’s latest view undermines the Obama administration’s pressure on China over its management of the currency and could undercut congressional efforts to inject yuan concerns into pending trade legislation.http://www.wsj.com/articles/imf-to-brighten-view-of-chinas-yuan-1430697814?utm_source=The+Sinocism+China+Newsletter&utm_campaign=c3d0249420-The_Sinocism_China_Newsletter_05_04_155_4_2015&utm_medium=email&utm_term=0_171f237867-c3d0249420-29615013&mc_cid=c3d0249420&mc_eid=5935182a65