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Chart of the Day: Yuan internationalization stalls
This Standard Chartered chart shared by Financial Times show that the august 2015 devaluation of the yuan was a crucial step in the yuan internationalization.
After that unexpected forced devaluation of 1.9 percent in August 2015, the forward marching globalization index reversed course. The major volatility and depreciation in January 2016 also contributed to the decline. As of latest number, the gauge has slumped to the lowest level in three years.