21. Fears continued on the market that China might devalue the yuan if regional currencies continue to come under pressure. 22. He said China reiterated that it will not devalue the yuan as it is more beneficial to keep the currency stable than to devalue it. 23. He said growth will slow, but not significantly, and that the government will not need to devalue the yuan to lift sagging exports. 24. If the yuan were devalued, it would pull the rug out from under the Hong Kong currency and trigger another wave of currency devaluations across the region. 25. Investors fear China will be forced to devalue its yuan if the yen slides further. 26. Investors also fear that the anemic yen eventually will force China to devalue its yuan, which likely would bring a new round of currency devaluations in the region. 27. Many Asian currencies sank on Friday amid growing concern China will devalue the yuan to boost the competitiveness of its exports. 28. New anxiety that the government might devalue the yuan, despite its pronouncements to the contrary, also fueled the move into dollars, traders said. 29. She acknowledged that many businesses nevertheless believe the yuan will be devalued because of the Asian financial crisis. 30. State export firms have reportedly lobbied Chinese leaders to devalue the yuan to stay competitive. |