News Analysis
The devaluation of China’s currency, the yuan, has plummeted to its lowest point this year due to failed government interventions amid the economic depression.
ANALYSIS: China’s Economy Stuck in Deeper Crisis Due to More State Interventions
RMB weakens; more bad bank loans are passed to Chinese nationals and foreign stockholders
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A staff member counts money at a branch of the Bank of China in Lianyungang, Jiangsu Province of China, on Aug. 10, 2011. VCG/VCG via Getty Images
By Kathleen Li and Lynn Xu
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