If yesterday’s devaluation of the renminbi was China’s entry to the currency wars, it brought a knife to a gunfight. The currency fell 1.9 per cent against the dollar, which is the biggest daily fall since 1994 but barely makes a scratch in its rise of a fifth against both the yen and the euro since last summer.
如果昨日的人民幣貶值表明中國進入貨幣戰，那么這一舉動無異于拿著匕首參加槍戰。人民幣兌美元中間價貶值1.9%，為自1994年以來的最大單日跌幅，但與自去年夏以來人民幣對日元與歐元20%的升幅相比，顯得微不足道。
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