At the end of last month, the Chinese renminbi was anointed as one of the world’s elite currencies, a first for an emerging market and a widely hailed acknowledgment of China’s rising financial influence and economic might. From Our Advertisers But soon after reaching that milestone, the renminbi started slowly and steadily falling, with Chinese companies and individuals moving huge sums of money out of the country’s weakening economy. The falling currency sets a fresh challenge for Beijing’s leaders, as the Chinese renminbi is increasingly woven into the global marketplace. While a weaker currency helps the ... (full story)