China Is In A World Of Pain Coming

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Plunge in China’s Markets Intensifies as Yuan Hits One-Year Low

“The PBOC is looking to provide further support for the economy, and seems intent on pulling as many levers as possible, perhaps with the exception of lowering interest rates for now,” said Khoon Goh, head of Asia research at Australia & New Zealand Banking Group Ltd. “Allowing the yuan to weaken slightly this week seems to be part of the overall ‘support package.’”

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