Has the Big Yuan Short Finally Arrived?

Chinese markets are in trouble once again.

China's currency is down nearly 1% from Friday's close, wiping out the yuan's gains for the year, after the People's Bank of China cut reserve requirements for banks over the weekend. Slowing growth and rising trade tensions are pummeling Chinese shares, with the Shanghai Composite entering a bear market Tuesday. And rising defaults are testing the country's gargantuan debt market.

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