As China holds the line in ‘trade war 2.0’, its yuan follows suit

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When US President Donald Trump fired the opening salvoes of his country’s trade war with China in his first term, Beijing’s currency was on the front lines.By 2019, the yuan had tumbled past the benchmark value of seven per US dollar for the first time in over a decade, rattling investors and fuelling speculation that Beijing was allowing depreciation to mitigate the effects of tariffs.As Washington and Beijing began to lock horns once again, with Trump’s second White House foray bringing with...