Pretty much beating a dead horse at this point
Further comments weighing on the trade rhetoric between US and China. This time from ex-PBOC adviser Li Daokui, who says that it is "extremely unlikely" for China to devalue its currency to deal with a trade war against the US.
Li argues that such a move will be followed by competitive devaluation in many countries and jolt global financial markets, and that will prompt China to avoid pursuing such a measure.
