The Middle Kingdom Strikes Back

Check this out:

How about that? China has trade weapons other than tariffs at its disposal. Who knew? Well, China did, for one. They released a statement blaming the depreciation of the yuan on “the effects of unilateralist and trade-protectionist measures and the expectations for tariffs against China.”

And now the whole world is panicking. Here’s another chart from the Wall Street Journal:

Buckle your seatbelts.

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate