It seems like China, ground zero for the coronavirus global pandemic, has been relatively unscathed by the public health crisis. Beijing was one of the few major economies to record growth in 2020, thanks to ultra-aggressive fiscal and monetary support. For the last several months, the pertinent metrics of a healthy economy have been improving as expected. During this period, a surprising trend has been the appreciation of the yuan, climbing to its highest level against the U.S. dollar in 30 months. Chinese policymakers have allowed the yuan to strengthen – for now – and this could have ramifications for the United States in 2021. So, what does a strong yuan mean for America and the rest of the world? A Tale of Two Currencies At the height of the COVID-19 pandemic, the yuan had slumped about 2.5% to as low as 7.718 per U.S. dollar. Throughout the trade war with President Donald Trump, ...
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as website statistics. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.