Economics
China Fear of Echoing Post-Plaza Japan Limits ‘Hyundai Accord’
This article is for subscribers only.
China’s reluctance to deliver “shock therapy” through a faster appreciation of the yuan may be a bid to avoid repeating history: Japan’s.
As Group of 20 finance chiefs begin talks today in Gyeongju, South Korea, China is deflecting foreign pressure to fast-track the yuan’s gains after limiting them to about 2 percent against the dollar since a June vow to embrace more flexibility.