Fear a Weak Yuan, but No Repeat of the Last China Crisis

The weakening of China's currency signals the opening of another front in the trade war and brings with it big risks for investors

The weakening of the currency signals the opening of another front in the trade war, and brings with it big risks for investors.

The most obvious risk is also the least likely: that China will repeat the mistake of its 2015 devaluation, which led to heavy bets against the currency and took months to get under control. Back then global investors switched overnight from...

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