Abstract: This paper discusses the possible consequences of the recent devaluation of the Chinese Renminbi by the People’s Bank of China (PBOC) with reference to the Asian Financial Crisis of 1997. The Chinese dragon has emerged as the most powerful Communist Force in the Southeast Asian economy. Chinese economy has grown by leaps and bounds since 1990. Since the devaluation, markets worldwide have lost confidence with the Shanghai Stock Exchange in a frenzy downslide. With stock markets on the decline, the paper, in the wake of the Asian Financial Crisis that started around 1997, tries to establish any possible similarity to the said crisis.
Keyword: Yuan, Devaluation, Chinese Economy, Asian Financial Crisis.
Title: Yuan Devaluation: Trigger for a Crisis?
Author: Nikhil Ashok Hegde
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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