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Aug 31, 2015 0 Comments

China Should Look to the “Pacific Pumas” Articles / Opinion Editorials

Authors: FERNANDO MENÉNDEZ

The world has grown accustomed to a booming China for so long that the latest signs of a weakened economy are causing serious concerns.

One area of particular concern is global financial and foreign exchange markets. On August 11, 2015, China began a devaluation of its currency, the yuan. Three days later, the value of the yuan dropped 4 percent against the U.S. dollar. In subsequent days, however, the yuan stabilized as the People’s Bank of China effectively liquidated over $106 (or more) billion in foreign exchange reserves. Most troubling to financial circles, however, is the sale of as many U.S. Treasuries in two weeks as sold in the first half of this year, an additional $107 billion.

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