China’s yuan (renminbi) has remained above the sensitive level of seven to the US currency for the last three days, hinting that trade friction between the US and China is entering a dangerous phase.
VEPR has suggested devaluing the Vietnamese dong against the US dollar, but at a slower rate than the depreciation of China’s yuan against the greenback.
The inclusion of China''s yuan into the International Monetary Fund
(IMF)''s basket of reserve currencies last Saturday will impact finance
across the globe, and Viet Nam is no exception.
With the International Monetary Fund (IMF) including China''s yuan in its
elite reserve currency basket, impacts from the step on Viet Nam''s
economy...
