China will have to devalue. It really doesn't have to do with the trade war, they are in the same situation as Hong Kong, they cannot defend the peg and would burn through a ton of FX reserves trying to do so.
China will have to devalue. It really doesn't have to do with the trade war, they are in the same situation as Hong Kong, they cannot defend the peg and would burn through a ton of FX reserves trying to do so.