Photographer: Tomohiro Ohsumi/Bloomberg

One Thing China Got Right

Stocks plunged, monetary policy wavered, but Beijing finally fixed the "fixing."

China's management of the world's second-largest economy hasn't gone swimmingly of late, but authorities have succeeded in one vital though little-noticed mission. They've closed the gap between the market value of the yuan and its official daily value, known as the "fixing."

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