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China's yuan devaluation born of policy mistakes

WASHINGTON -- China's devaluation of its currency is less an attempt to invigorate exports than a misstep on the path to creating a more market-oriented exchange rate, David Dollar, a senior fellow at the Brookings Institution said in a recent interview with The Nikkei.

     Dollar, an expert on the Chinese economy and U.S.-China relations, argued that a continued devaluation trend could heighten tensions between the two countries.

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