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 Yuan currency

Every other week, we release 5 Minutes for Business, a publication written by Hendrik Brakel, our Senior Director of Economic, Financial and Tax Policy. In these publications, Hendrik briefly describes current issues that affect the Canadian economy and provides insight on what it will mean for Canadians today and the future. In this week’s edition he looks at the potential for currency wars, led by China.

If there was any doubt about China’s importance to the global economy, the frenzied reaction to a 3% depreciation in the renminbi should make it clear: When China sneezes, world markets catch a cold. So should we be worried about a currency war? Will countries race to devalue their currencies in order to match China or gain a competitive advantage?

Read 5 Minutes for Business.

For more information, please contact Hendrik Brakel.

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