LHR C1 VOI T YY]China’s CurrencyDaniel Gonzalez, Truc Huynh, Uliana Batih, Patrycja SiragGroup 1December 1, 2022Analysis and Synthesis - comprehensive report that may include data, figures,...

China’s currency devaluation is one thing which not only impacts China but also affects other economies around the world. The first country to take a stand against China’s deliberate efforts of devaluing its currency was the United States and this they did because the United States is one of the biggest export destinations for China therefore to boost exports it went ahead and devalued its currency (Qingiiang 2012).
China’s currency devaluation has the following affects on other economies around the world:
· Increasing dependency on one country: When a country devalues its currency this affects all the economies that have a trade relationship with the country, this is because if a country is an export hub for China the same country will now be more dependent on China because of the lower value of Yuan and therefore they will be able to purchase more goods
Similarly, the country that exports to China will find it difficult to sell...