For the past three years, China has allowed its currency, the renminbi, to weaken in value compared with the U.S. dollar. On paper, that should bolster Chigo’s profits. Half of its $1.2 billion in annual sales come from abroad, mostly in dollars, and a weaker renminbi gives Chinese companies an advantage when they sell their products in other countries.
"For China’s Factories, a Weaker Currency Is a Double-Edged Sword" is from the March 01, 2017 Business section of The New York Times. It was written by Keith Bradsher and narrated by Caroline Miller.