Top Chinese Investor: Do Not Fear The Yuan Devaluation

"The critics are wrong. Beijing is taking the right steps toward achieving a currency valuation based not on manipulation but on market forces."

Global markets greeted China’s currency adjustment last week with alarm. Many investors and commentators regarded the latest move by the People’s Bank of China as a sign of desperation, revealing Beijing’s deep anxiety over sluggish economic growth and worsening financial fragility. Devaluation, they claim, is the last bullet in Beijing’s arsenal to revive sagging exports and to reboot its economy.

Read more on The Wall Street Journal