There is modest yet mounting speculation in financial markets that China will need to take an extreme and highly controversial measure to support its moribund economy — devalue the yuan in a big-bang move.
Supporters of a sharp currency depreciation say it would allow Beijing boost exports and give the central bank room to cut interest rates. Doubters argue it would only lead to a feedback loop of capital outflows and further yuan declines with the potential to destabilize the global currency market.
CNY USD: Yuan Devaluation Debate Surfaces as Way to Support China Economy - Bloomberg
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