Global markets in a turmoil as China devalues currency

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The devaluation reflects the slowdown in the Chinese economy and concerns regarding its ambitious goal of a growth of 7% this year.

 

Global markets in a turmoil as China devalues currency

 

The World’s No.2 economy seems to be in a crisis and has steeply devalued its currency ‘Yuan’.

The devaluation reflects the slowdown in the Chinese economy and concerns regarding its ambitious goal of a growth of 7% this year.

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This has led to turmoil in global economies all over the world with sharp fall seen in US stock markets. The copper prices also fell to an all-time low.

 

The devaluation reflects the slowdown in the Chinese economy and concerns regarding its ambitious goal of a growth of 7% this year.

 

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