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China's forex intervention spurring 'vicious circle'

China has used its hefty reserves to hold up the yuan after the currency was effectively devalued in August via a change in the way the yuan is traded.


CURRENCY wars - in which currencies are devalued to boost exports - appear inevitable given the thick brew of high debt and faltering global demand, and as structural reform remains unlikely, senior Rabobank analysts said at a briefing on Tuesday.

This comes as China's...

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