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In the past week or two, markets have been struggling with correction globally. (Photo: Guilhem Vellut)

Where does the US-Chinese turmoil leave Europe?

About a week before last Friday, the People’s Bank of China (PBoC) adjusted the exchange-rate of the Chinese yuan against the US dollar to better reflect market conditions. The net effect was a devaluation of 1.9 percent relative to the dollar.\n \nCritics saw the PBoC’s adjustment as still another signal that the slowdown of Chinese growth is worse than anticipated.

However, that slowdown simply reflects the shift of China’s growth model from investment and exports to consumption and ...

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The views expressed in this opinion piece are the author’s, not those of EUobserver

Author Bio

Lisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.

In the past week or two, markets have been struggling with correction globally. (Photo: Guilhem Vellut)

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Author Bio

Lisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.

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