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China has kept the value of the yuan locked at a fixed exchange rate to the dollar since 1994.
Yet farmers have responded to the new market signals by switching to less thirsty crops and kept the value of farm output stable.
The government has kept the value of the renminbi unchanged against the dollar since then by buying hundreds of billions of dollars and euros each year in currency markets, selling renminbi to do so.
For more than a decade, critics have said the government has kept the value of its currency artificially low, giving Chinese exporters an unfair advantage over American counterparts by making Chinese goods cheaper overseas.
For more than a decade, Beijing has kept the value of the renminbi, also known as the yuan, more or less constant to the dollar, a strategy that critics say increases the price of American exports to China and fuels the rapidly growing trade deficit with Beijing.
It's true China has kept the value of its currency artificially low relative to the dollar.
Similar(46)
As such, the ellipsoid method keeps the value of the crisp-valued fuzzy number.
He also vowed to keep the value of the Argentine peso tied to the dollar.
Second, they want to keep the value of their currencies down to help their exports.
But China chose instead to keep the value of the yuan in terms of the dollar more or less fixed.
Most private equity firms keep the value of their investments carefully shielded from the public's eyes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com