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3min chapter
China Pushes Yuan Aggressively Higher As Corporate Bonds Implode
Market Depth
China's Aggressive, Huge Move on Multiple Fronts to Strengthen the Yuan
Chinese authorities are not in the private sector bailout with public funds business, but they are in the currency exchange rate setting business. That exchange rate needs to stay flat if not depreciate versus the yuan. So that is why there is so much concentrated effort on just keeping a floor under the yuan or lid on the dollar. And that's why it's kind of patient zero for all of the other problems.
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