China’s exchange rate nears equilibrium because the country’s currency, yuan was devalued by the country.
The devaluation of the yuan make global market shocked and China’s reserves were extremely down because of this devaluation.
These two things have raised anxiety about sustainability of China’s efforts to support the yuan.
On the one hand the country’s deputy central bank governor said that the devaluation was not a big change, but on the other hand, the government had shelved plans for further adjustments because it was shocked by the international reaction to its currency’s drop.
China is the largest country in the world and its market has a great influence over the world market.
The Chinese economy has been growing remarkably for decades. These days, I sometimes hear news about Chinese economy. Most of them are bad news or articles which describe anxiety about the economy. If the economy stops growing, the world’s economy will be damaged seriously.
It may be difficult to understand What China want because the country is governed by the Communist Party.
But the other countries had better suggest good plans or cooperate with China for the economy.
I think China must make efforts to protect its market not only for own country but also for the world.