China’s Devaluation of the Yuan: A Global Economic Imbalance

Unless you have been living under a rock for the past few years, you probably already know that The People‚Äôs Republic of China is growing in both power and influence. In the second quarter, China overtook Japan as the second largest economy. This lead is likely permanent as China is growing at a much faster rate than Japan, about 10% annually. The importance of the U.S.-China economic relationship has never been so clear. With a population of over 1.3 billion, China is the fastest-growing major overseas market for the United…