Puerto Vallarta News

Puerto Vallarta News

China’s currency devalued for second day

China's yuan fell further Wednesday, fueling concern about a possible "currency war" if other governments fight back with their own devaluations to compete in export markets.

Shock waves from Tuesday's 1.9 percent devaluation against the U.S. dollar, which was the yuan's biggest change in a decade, spread through financial markets, causing stocks and Asian currencies to tumble.

Beijing said the yuan's decline was a one-time event and part of changes aimed at making the tightly controlled . . .

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