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China, Citigroup Agree: There's No Need for Big Yuan Devaluation

  • China's share in global exports has surged to a record
  • Policy makers won't tolerate large devaluation, Citigroup says
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Yuan Devaluation: Is There More to Come?

There’s some truth in China’s claim that the yuan doesn’t need to fall much further.

While China’s exports are slowing, they’re still edging out competitors. The country’s share in global exports surged to an unprecedented 15 percent this year, from 8.7 percent in January 2010, according to data compiled by Bloomberg. The ratio increased even as the inflation-adjusted yuan rate appreciated 33 percent against its major trading partners.