BEIJING – On August 11, the People’s Bank of China (PBOC) lowered the central parity rate of the renminbi by 1.9%, sending shockwaves around the globe. Many foreign commentators condemned the devaluation as a blatant attempt to boost Chinese exports – a move that would, they warned, spark a new round of currency wars.
北京—8月11日，中国人民银行将人民币中间汇率下调1.9%，引起了全球冲击。许多外国评论家指责贬值是赤裸裸地为了提振中国的出口——他们警告说，此举将引发新一轮货币战争。但有很好的理由相信这绝非中国贬值的初衷。