Could Chinese Yuan Change Spark Currency War?

04:30

August 12, 2015

A taxi driver counts his change in Beijing today, following China cutting the yuan's value against the U.S. dollar for the second consecutive day, roiling global financial markets and driving expectations the currency could be set for further falls. (Fred Dufour/Getty Images)

China's central bank devalued that country's yuan another one percent today after yesterday's nearly two-percent devaluation that sent shock waves through the global economy. It represents the biggest two-day drop in the yuan's rate against the dollar in more than two decades.

Here & Now's Jeremy Hobson talks with NPR's John Ydstie about the situation.

Guest

John Ydstie, NPR economics correspondent. He tweets @jey51.

This segment aired on August 12, 2015.