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Currency War? Cheap Chinese goods about to get cheaper

Chinese renminbi

The Chinese central bank cut the value of the renminbi (yuan) by 1.9% sending other Asian currencies downward and making Chinese exports even cheaper for foreign consumers. Australia, Singapore and South Korea saw their currencies drop more than one percent as speculators expect those governments to cheapen their currencies to keep the price of exports competitive with China. The People’s Bank of ...

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