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mk  ·  3171 days ago  ·  link  ·    ·  parent  ·  post: Why Did China Devalue Its Currency? Two Big Reasons

I don't buy the argument that China was ceding any power in this move. Just because the RMB moved in the direction that global markets would like it to doesn't mean that the CCP would do otherwise if they felt the need. IMO they are not interested in liberalizing their economy to the extent that they lose control, but are happy to be mistaken as doing so.