Everything You Need To Know About China’s Move To Stop ‘Fixing’ The Yuan Fix

Remember back in late May and early June when the PBoC engineered a pretty epic short squeeze in the yuan? If not, that's ok. Here's what happened. When Moody’s downgraded China for the first time since 1989, it was readily apparent that Beijing wouldn’t just take it in stride and go on about their business. See if you are a Chinese citizen and you go out and you do something that Beijing thinks could destabilize markets (or destabilize anything really), they will simply arrest you. Of