What a Weaker Chinese Yuan Means for the World
Move to allow the market a greater say in setting the yuan level is roiling currencies, commodities and stocks the world over
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The steepest slide in the yuan in two decades is a game changer. The last time the currency moved this much -- 1994 -- China's economy ranked as the world's eighth largest, just behind Canada's, and few outside its borders would have even been able to put a name to the currency.
Now, the nation's move to allow the market a greater say in setting the yuan level is roiling currencies, commodities and stocks the world over and reshaping the global economic outlook.