China promises not to weaken yuan, criticizes US concern — Financial Post

BEIJING — China’s government has promised not to weaken its currency to boost exports and rejected U.S. concern about the sagging yuan as groundless and irresponsible. A foreign ministry spokesman, Lu Kang, said Tuesday that Beijing has no intention of using “competitive devaluation” to make exports less expensive during a tariff fight with Washington. A…

via China promises not to weaken yuan, criticizes US concern — Financial Post

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