- Aug 2020
How did this system work in 2011? What has changed in the years since? Are things still pegged? And if so, at what relative to 2011?
- Dec 2015
gives Chinese exporters a huge advantage
"Some economists, such as Paul Krugman, argue that Chinese currency devaluation helps China by boosting its exports, and hurts the United States by widening its trade deficit. ... Krugman has suggested that the United States should impose tariffs on Chinese goods"
"Greg Mankiw, on the other hand, asserts that U.S. protectionism via tariffs will hurt the U.S. economy far more than Chinese devaluation. Similarly, others have stated that the undervalued yuan has actually hurt China more in the long run insofar that the undervalued yuan doesn’t subsidize the Chinese exporter, but subsidizes the American importer."
[Source: https://en.wikipedia.org/wiki/Currency_intervention#Chinese_Yuan Retrieved December 9, 2015]