News Analysis The devaluation of China’s currency, the yuan, has plummeted to its lowest point this year due to failed government interventions amid the economic depression. More money issued by the Communist Party’s financial institutions will be used as a government hedge against the collapse of the banking and financial system, shifting the country’s debt…
ANALYSIS: China’s Economy Stuck in Deeper Crisis Due to More State Interventions
July 1, 2023
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Asia & Pacificbad debtsBank of ChinaBusiness & MarketsChina Business & EconomyChina NewsChinese Yuaneconomic policieseconomyrmbstock marketWorld
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China’s State Media Claims De-Dollarization Improves RMB’s International Status
May 9, 2022
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ChinaChina Business & EconomyDe-DollarizationFinance & Business Tiesforeign exchange reservesoil RMBrmbSpecial Topicsyuan
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The U.S. dollar has long been recognized as the leading global reserve/fiat currency. But recent hardships posed by the pandemic, war, economic sanctions, dwindling food reserves, and energy shortages have motivated some countries to accelerate the diversification of their currencies. This emerging trend is referred to as de-dollarization. Official media of the Chinese Communist Party…
PBOC Intervention Fails to Halt RMB Decline
The onshore exchange rate of RMB against the U.S. dollar stopped falling briefly on April 26 under the policy adjustment of the People’s Bank of China (PBOC), but continued falling to close at 6.6115 on April 28, down 546 basis points from the previous trading day. An expert believes that the RMB exchange rate is…
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