Most of the commentary is just hapless and directionless.
China's export strategy is failing, so they are trying to do other things.
And why is it failing? Because their customers (guess who) are flat broke. Oh, we don't talk about that sort of thing. Or why it might be happening.
At least a few people have at last discovered the currency war, in its ninth year of slow simmering, and not so far behind the scenes if you will open your eyes to it.
These big changes in the dynamics of the world's economies happen very slowly over time, but then appear on the scene as if all in a rush, out of nowhere.
Not one thing has changed. The big macro trend continues to play out, no matter what market manipulations may be undertaken by the Chinese, or the Exchange Stabilization Fund and the Fed.
The times, they are a changing.
The arc of the moral universe is long, but it bends towards justice.
Have a pleasant evening.