China’s state media has warned billionaire investor George Soros against betting on falls in the value of the Chinese yuan and Hong Kong dollar, amid widespread worries over the health of world’s second-largest economy.
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China’s fourth-quarter economic growth slowed to the weakest since the global financial crisis, increasing pressure on a government struggling to regain investors’ confidence after perceived policy missteps jolted global markets.
“Soros’ challenge against the renminbi (yuan) and Hong Kong dollar is unlikely to succeed, there is no doubt about that, ” the People’s Daily overseas edition said in a front-page opinion piece on Tuesday.
Read the full story at Reuters, by Kevin Yao
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