Plaza Accord 2.0 talk wonβt fix anybodyβs China problem
TOKYO β Enter German Chancellor Friedrich Merz as the latest to suggest a Plaza Accord 2.0 is needed to knock Chinaβs export competitiveness down to size. Merz argues the yuan is 30% undervalued, accuses Beijing of βflooding globalΒ marketsβ with artificially cheap goods and warns that its state-subsidized overcapacity is destabilizing an already fragile world economy. [β¦]
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