Source: China – South China Morning PostIn the decade since China shocked the world with a surprise devaluation of the yuan, the nation’s exchange-rate regime has steadily shifted towards market-based – yet still managed – pricing, and analysts say the era of burning through massive reserves to defend the currency is firmly in the rear-view mirror.
Armed with lessons from the past, Beijing now employs a wider arsenal of tools to manage volatility, they added, with the key challenge for the coming decade being whether the yuan can open…Read More