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US-China trade talks will focus on yuan weakness, experts say
The Chinese yuan's weakness will be a focal point during the U.S.-China trade talks in late August, as both countries grapple with the fallout from recent fluctuations in the currency markets, analysts said. The mid-level talks will likely be about "how exactly are they going to deal with the RMB (renminbi)," said Robin Brooks, chief economist at the Institute of International Finance, referring to another name for the yuan. On Friday morning in Asia, the dollar traded around 6.89 against the Chinese yuan — a whisker away from 7, a level last witnessed in May 2008. The dollar has gained about 6 percent against ... (full story)