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What Makes China’s Currency a Weapon in the Trade War

Aug 05, 2019 - The New York Times

What Makes China’s Currency a Weapon in the Trade War

This article was originally published in 2018 and was updated on Aug. 5 after China’s currency fell.

As the United States and China swap threats and mete out increasingly punishing tariffs, the world is watching to see whether Beijing turns to one of its most potent economic weapons.

It involves the number 7.

China’s currency, the renminbi, on Monday crossed the psychologically important level of 7 renminbi to...