China Weekly: China reciprocates, renminbi weakens, Shein on top

The offshore renminbi ends the week roughly where it was relative to the dollar when Donald Trump started speaking in the Rose Garden on Wednesday. Fortunately for exporters, the currency has still weakened in trade-weighted terms. And, counterintuitively, Chinese online retailers may actually benefit from the ramp up in US tariffs, despite the scrapping of the de minimis exemption.

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