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Running head: BLOOMBERG ARTICLES1Summary of Bloomberg ArticlesNameInstitutionDateBLOOMBERG ARTICLES2A Summary of China's Central Bank and Foreign FirmsAccording to Bloomberg News (2019), officials from the Chinese central bank assuredforeign firms that the Chinese currency would not weaken further. This was after the ChineseYuan depreciated below 7 per dollar. Such a scenario had not occurred in China since 2008. Toretain the trust and the loyalty of foreign investors, the officials had to reassure them that all willbe well. Bloomberg (2019) reported that the Chinese Central Bank held a major meeting withforeign exporters in Beijing. The officials informed foreign exporters that normalcy wouldprevail when it comes to their companies' ability to sell and buy dollars; however, the anonymityof the attendees remained confidential.After the meeting, the yuan appreciated in offshore trading. The U.S was concernedabout the decline of the yuan and investigated to determine if China had addressed the issue.Soon after the meeting, officials let the yuan decline in onshore trading below the anticipatedlevels. The economic dispute between China and the U.S was termed salvo. Chinese officialsfeared that the manipulation of the dollar by the U.S would increase the decline of the yuan.Chinese foreign firms would be affected deeply by the fall in the yuan, and this will increase thecost of imports utilized in production.Nevertheless, the decline raised informati ...


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