How to Avoid Another Depreciation ‘Accident'

<正>Within two days of trading after China’s central bank announced on August 11 that it would improve the yuan’s central parity system,the yuan fell by more than 3 percent against the U.S.dol ar.This depreciation was considered normal,especially in view of the yuan’s 15-percent trade-weighted increase since 2014.However,the depreciation did cause unexpected responses in both the Chinese and international

How to Avoid Another Depreciation ‘Accident’