China’s currency just dropped to its lowest level in a decade — and US exporters will pay the price
|08/22/2019||Posted by BusinessMediaguide.Com under General World News||
- China’s renminbi slipped to its lowest level in a decade on Thursday, after earlier this month allowing its currency to weaken to more than 7:1 to the dollar.
- The weaker currency will help China in the trade war, as it helps to stop capital flight out of the country, but also makes imports into China more expensive.
- China retaliated to added tariffs imposed by Trump earlier this month by letting the currency fall — in doing so it sent markets tumbling.
- View Markets Insider’s homepage for more stories.
China’s renminbi (yuan) slipped to its lowest level in over a decade on read more >>>