China Looks After Itself, Letting the World Suffer

WASHINGTON, DC â?? The recent decline in Chinaâ??s currency, the renminbi, which has fueled turmoil in Chinese stock markets and drove the government to suspend trading twice last week, highlights a major challenge facing the country: how to balance its domestic and international economic obligations. The approach the authorities take will have a major impact on the wellbeing of the global economy.