About the only thing falling faster than China’s economic prospects is the yuan. China’s sliding currency is but the latest indicator pointing toward a year that could be the hardest yet of the Xi Jinping era. That seemed clear enough last week, when the People’s Bank of China surprised the world with a rate cut. The PBOC eased again today, cutting the one-year loan prime rate by 10 basis points from 3.65% to 3.55% and the five-year loan prime rate by 10 basis points from 4.3% to 4.2%. Investors’ attention is now on how quickly and aggressively Xi’s government might act to pump additional stimulus into Asia’s biggest ... (full story)