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The significance wasn't the relative size of the devaluation but the fact that China was willing to finally do it. I find that China adopts free market 'forces' when the forces do what Chinese leaders want to have happen anyhow.
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The significance wasn't the relative size of the devaluation but the fact that China was willing to finally do it. I find that China adopts free market 'forces' when the forces do what Chinese leaders want to have happen anyhow.
The prerogative of a sovereign is picking the time of one's choosing.
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