Don't worry! soothes the People's Bank of China. Its devaluation of the yuan in early August by 1.9 percent was a one-time adjustment, bringing the yuan more in line with supply and demand. Won't happen again.
Nonsense, says BloombergBusiness. China's move raises the risk of a "currency war" in which export rivals seek weaker exchange rates to stay competitive. And don't believe this is a one-time fix, warns Stephen Roach, a senior fellow at Yale University and former non-execut...