THE UGLY

Finweek English Edition - - IN BRIEF -

China de­val­ued its cur­rency by 1.9% against the US dol­lar on 11 Au­gust, re­sult­ing in the big­gest one-day drop in the yuan since 1994, rais­ing con­cerns about the ex­tent of the coun­try’s slow­ing eco­nomic growth. It will also boost the com­pet­i­tive­ness of Chi­nese ex­ports, a move few of its key trad­ing part­ners, no­tably the US, will be happy with.

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