China’s Currency Catch-22

As the Trump administration ratchets up tariffs on Chinese goods, many observers have begun to wonder if China will respond with a strategic currency devaluation to boost the competitiveness of its exports. But, despite despite possessing a powerful financial and monetary arsenal, Chinese policymakers have no good options. Officials at the People’s Bank of China (PBOC) have … http://bit.ly/2Lylqjm

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