The Chinese Economy’s Great Wall
The renminbi's recent decline, which has thrown Chinese stock markets into turmoil and drove the government to suspend trading twice last week, highlights a major challenge facing the country: how to balance its domestic and international economic obligations. The authorities' answer will have a major impact on the global economy.
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WASHINGTON, DC – The recent decline in China’s currency, the renminbi, which has fueled turmoil in Chinese stock markets and drove the government to suspend trading twice last week, highlights a major challenge facing the country: how to balance its domestic and international economic obligations. The approach the authorities take will have a major impact on the wellbeing of the global economy.