MARKETS_ Weaker Yuan Tests China’s Ability to Prevent Capital Flight

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Weaker Yuan Tests China’s Ability to Prevent Capital Flight

Beijing isn’t likely to allow the yuan to depreciate much further, as a weaker currency could trigger massive outflows


By Steven Russolillo
Aug. 11, 2019 10:00 am ET


China’s biggest experiment with its currency since a botched devaluation four years ago suggests its leaders believe they can stem a serious flood of money fleeing its borders.

China earlier this month let the yuan depreciate beyond the key 7-to-the-dollar level for the first time since 2008, prompting the U.S. Treasury Department to label the country a currency manipulator and marking the latest flare-up in an escalating trade fight.

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READ MORE: https://www.wsj.com/articles/weaker-yuan-tests-chinas-ability-to-prevent-capital-flight-11565532001


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