TOP OF THE AGENDA
China Currency Devaluation Stirs Concern
China's central bank devalued (CNBC) its currency by another 1.6 percent on Wednesday,
as the government tries to offset slowed growth and a market crash.
Beijing says the change is part of the government's policy to allow its
currency to follow market changes. Major stocks throughout the region fell (Bloomberg)
in response. A weaker yuan is expected to boost Chinese exports
globally and support its flagging growth, however, the devaluation
prompts fears (Reuters) of a currency war.
| |
|
Wednesday, August 12, 2015
CFR Update 8/12 China Currency Devaluation Stirs Concern
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment