First published: Bloomberg 06/08/2019
China allowing the yuan to slide below 7 to the dollar is a watershed moment for currency markets that’s symbolically equivalent to the U.S. and other countries abandoning the gold standard in the interwar period, or the collapse of the postwar Bretton Woods system of fixed exchange rates four decades ago. The implications for the global economy are equally significant.
Read on…. https://www.bloombergquint.com/opinion/yuan-s-slide-is-china-s-gold-standard-moment
