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China's premier insists it's not devaluing the yuan
China Won't Devalue Yuan to Boost Exports, Premier Li Says
From Bloomberg News
Tuesday, September 18, 2018
Hours after China and the U.S. announced their latest tariff salvos in the escalating trade war, Chinese Premier Li Keqiang said the nation wouldn't devalue its currency to make its exports more competitive.
"Recent fluctuations in the renminbi exchange rate have been seen as an intentional measure, but that isn't true," Li said in a keynote speech at the World Economic Forum in Tianjin on Wednesday. "One-way devaluation will do more harm than good to China's economy. China will by no means stimulate exports by devaluing the yuan." ...
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