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Impact of Stronger Yuan on Exports Controllable: Herald

CHINA PRESS

The impact of a stronger yuan on exporters may be lowered through changing settlement currencies with purchasers and increasing the efficiency of upstream supply chains, Peng Bo, a researcher at the Chinese Academy of International Trade and Economic Cooperation, wrote in a commentary for the 21st Business Herald. The yuan's current round of gains is due to inelastic demand for essential goods exported from China as the pandemic halted production in other countries, wrote Peng. The cycle will likely end with the development and distribution of future COVID-19 vaccines, he said.

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