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Cutting 100 yuan, taken here in a Shanghai bank. Johannes Eisele / AFP

At a time when trade negotiations are expected to resume between China and the United States, after the renewed tension in recent days, the Chinese currency this morning has a new bout of weakness against the dollar. The yuan has fallen to its lowest level since 2008.

This is the second time in less than a month that the yuan has plummeted. This morning, at 10:15 am, Shanghai time, it took 7,1449 yuan to get a dollar, a decline of 0.69% over the closing of Friday, August 23. And it's mostly the lowest level in eleven years.

The same causes producing the same effects. Just three weeks ago, it was another escalation in the trade war with the United States that led to the weakening of the Chinese currency. On Friday, August 23, Beijing announced tax increases on US products and Washington responded with a similar measure.

Handling currency

In fact, virtually all US imports from China are expected to be heavily taxed by the end of the year. Since the yuan is not yet an international currency available on the foreign exchange market, the course of its course often has a very political significance, especially from the United States.

Whenever the yuan falls, the White House accuses Beijing of manipulating its currency . This assertion is regularly denied by the Chinese government and often contested by independent economists.

►To read: China: the devaluation of the yuan, a double-edged sword