Even the most opaque of financial systems are no match for currency traders. Chinese leader Xi Jinping’s team and officials at the People’s Bank of China spent the last week obsessing over a yuan exchange rate plumbing 16-year lows. Xi’s inner circle and PBOC Governor Pan Gongsheng’s currency-management team are warning against speculation in the yuan and […]
China’s property crisis strategy still under construction
Beijing signals new willingness to stabilize tanking markets but currency traders betting the moves haven’t been enough to stop the rot