China's economic growth has stalled, and analysts forecast more yuan weakness but doubt Beijing will push it significantly lower
SHANGHAI—China’s abrupt devaluation of the yuan this week is stark acknowledgment from Beijing that its domestic economy needs help, a vulnerability that Chinese policy makers have played down during the escalating trade conflict with the U.S.
The yuan’s slip to below 7 per U.S. dollar put the Chinese currency at its weakest point since 2008—and aligned it closer to economic trends that have pushed growth near quarter-century lows. The currency’s fall of about 3% Monday in offshore trading hit global markets hard as investors...
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