In a world convulsed by the rising US dollar, the renminbi looks like a haven.
The Chinese currency has slipped just under 1 per cent against the dollar this year, a mere rounding error compared with the Brazilian real’s 14 per cent tumble and the euro’s 12 per cent slide.
But for a currency long seen as lacking a reverse gear, a recent drop to a 28-month low is nonetheless gaining attention, with some predicting far more severe problems down the road.
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