China Press Lashes Out – It’s The Dollar, Not The Yuan That Threatens Global Stability

Recently, the Chinese currency fell to its lowest level since late 2008. The renminbi has been trading around 6.92 to the US dollar. The plunge is typically explained with the anticipated US Federal Reserve rate increase in December and president-elect Donald Trump‘s threat to label China a currency manipulator and slap tariffs on Chinese exports.
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In reality, there is much more to the story.

This post was published at Zero Hedge on Nov 24, 2016.