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20 September 2017 02:22 (South Africa)

China brushes off EU concerns over weak yuan

  • Branko Brkic
    branko3048 a ray
    Branko Brkic

    Brkic is the founder and editor of The Daily Maverick.

    He has edited magazines on business and politics, technology, and wildlife. He has also published fiction and non-fiction books, most of them in Serbian. Though he has never pretended to be a reporter, his wide knowledge of politics (especially in America), combined with his experiences in a disintegrating Yugoslavia, gives him an unusual outlook on events in South Africa.

    Despite the vowel-poor surname, he tells anyone who asks that he hails from Hyde Park, Johannesburg, having spent most of his adult life in South Africa.

    Recent columns:

China has warned the EU and allies (read US) that an appreciation in its yuan currency could hobble the country’s red-hot growth -- growth which has been averaging about 8% a year for the past 30 years and that has driven the global economy. Chinese Prime Minister Wen Jiabao says the yuan will be kept steady as a result of the tailwinds buffeting hopes of a world economic recovery. But more is at stake over the strength of the yuan. China says countries that want the currency to appreciate also engage in trade protectionism, which restricts China’s development (and thereby restricts growth elsewhere). But the EU says a weak yuan combined with a weak dollar hurts European exports. Somehow, we don’t think the Chinese will be too worried about that. Read more: The New York Times

  • Branko Brkic
    branko3048 a ray
    Branko Brkic

    Brkic is the founder and editor of The Daily Maverick.

    He has edited magazines on business and politics, technology, and wildlife. He has also published fiction and non-fiction books, most of them in Serbian. Though he has never pretended to be a reporter, his wide knowledge of politics (especially in America), combined with his experiences in a disintegrating Yugoslavia, gives him an unusual outlook on events in South Africa.

    Despite the vowel-poor surname, he tells anyone who asks that he hails from Hyde Park, Johannesburg, having spent most of his adult life in South Africa.

    Recent columns:

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