The Aporia
China rejected claims of currency manipulation aimed at boosting its exports, responding to ongoing trade disputes with Europe. The country’s central bank released a report on Thursday stating that historical data does not support the idea that a stronger yuan hinders China's trade growth or that a weaker currency enhances exports. One economist described this move as a direct rebuttal to accusations of undervaluing the renminbi. Europe has long accused Beijing of devaluing its currency by up to 30%, which it claims harms European industries through unfair competition from cheap Chinese goods and services. In response, China warned that it would take “resolute measures” if the EU attempts collective actions against Chinese businesses or products.