The yuan, or renminbi, is the national currency of China, the world's second largest economy. The International Monetary Fund (IMF) has announced the currency's admission into its basket of reserve currencies.
China's currency, the yuan, has come under renewed pressure amid spoeculation that Beijing would permit more depreciation. This page collates recent DW content on the topic.
US media report that Washington wants Bejing to promise it will not devalue the yuan currency as part of a trade deal. The measure would aim to neutralize any effort by Beijing to counter American tariffs by devaluing its currency.
Money used to be no object for Chinese companies. They would spend billions without batting an eye, buying up desirable foreign companies. All steered by the leadership in Bejing. And why not? Chinese companies were sitting on mountains of capital, saved during the boom years of unbridled growth. That attracted technology. Innovation is a product you can buy.