Will China export more than just cheaper goods and services?
Central banks in the US and the UK are toying with raising interest rates to combat the prospect of higher inflation. But cheaper Chinese goods will reduce inflationary pressures and keep interest rates lower for longer. Less welcome will be the export of unemployment, as Beijing effectively prices western workers out of a job to protect its own economy.
Why does the Chinese currency have two names?
It is similar to referring to the pound and sterling. Renminbi is the official name of the currency and means the people’s currency. Yuan, like the pound, is the name of a unit of the currency.