Part 2/11:
At the heart of these developments is China’s determination to exert greater control over its currency, the yuan, amidst escalating tensions on the global stage. As the world’s second-largest economy, China’s moves are not isolated but are part of a strategic effort to safeguard its economic stability and position itself more firmly in international finance. The polite but firm actions by the People's Bank of China (PBOC) reflect a clear message: China is not willing to serve the interests of external actors at the expense of its economic stability.