China will not stoop to competitive devaluation of its currency, Premier Li Keqiang stressed, hours after China hit back, with a softer punch than the one landed by the United States, in an escalating tariff war between the world’s largest economies. “One-way depreciation of the yuan brings more harm than benefits for China,” he said. China will not do that to chase “thin profits” and “a few small bucks”. …read more
Source:: Yahoo Finance
