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Lucky number 7? Not for China

Xi must stop yuan's slide out of concern for economic stability, capital flight and Trump

| China

Chinese President Xi Jinping turned heads with a pledge to buy $40 trillion of goods globally to end the U.S.-China trade war. A startling number meant to call U.S. President Donald Trump's bluff. Yet the only figure that really matters may be 7.

That is the level versus the dollar to which China's currency is sliding as Xi speaks. If this milestone is reached, 2019 will be an even more contentious and chaotic year for geopolitics and markets than 2018 has been.

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