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Why yuan devaluation was just what China needed

China Focus

Why yuan devaluation was just what China needed

Loh Chen-yi Published on Fri, Aug 19, 2016 / 11:40 AM GMT+8

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SINGAPORE (Aug 19): There have been more benefits than costs to China’s decision over a year ago to change its currency fixing levels, even if waves of volatility rocked financial markets after the news was announced on August 11, 2015.

(See Singdollar, other regional currencies fall sharply on China's record yuan devaluation)

One such example is the greater flexibility in the RMB setting mechanism which we currently enjoy today.