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Weak yuan or strong US dollar?

While some US officials warn China against competitive devaluation, in fact, a strengthening US dollar is due more to US domestic forces than external factors

  • Published
    Oct 16, 2018, 5:00 am SGT
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United States Treasury Secretary Steven Mnuchin last week warned China against devaluing its currency, saying that any US-China trade deal must include a currency agreement against "competitive devaluation".

The Chinese yuan has plunged against the strengthening US dollar this year - weakening more than the euro, but less than most other emerging market currencies like the rupee and rupiah.

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A version of this article appeared in the print edition of The Straits Times on October 16, 2018, with the headline 'Weak yuan or strong US dollar?'. Subscribe
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