China sucks, go away CCP shill
China devaluates its currency simply because they want to keep their products' price low (cheap) thus remain competitive, yes they can do that since they have cheap sweatshops. But artificially changing anything will affect economic efficiency. They will need to import at some point, also pay its foreign debt. In the end, foreign countries will react, and everything will come back to the previous state (equilibrium). Any government intervention only useful in the short run.
Good to know that someone else is also seeing this pattern of CCP shills and propagandists on the forum. The communists always have this agenda of "image management" rather than letting a free society and a free press come to the conclusion about the performance and shortcomings of a government.
I often see this same behavior on Twitter. The Chinese handlers try really hard to give off the honesty vibe in their interactions, (like this one that is posting about devaluation without any reference to Bitcoin, which this forum is about). Yet, anybody who is remotely aware of the actions of the CCP including jailing its businessmen, reporters, scientists, doctors for so much as trying to provide genuine criticism, will understand the evil behind this homogenous behemoth that wishes to lord over and bully more and more of the world.
As far as currency devaluation is concerned, it is something that has been done by countries to boost their trade balance in the past. This does not mean that it is somehow a way to enhanced prosperity and growth in a country's economy. The fundamentals of a free market matter. China has cheap labor, cheap capital, cheap land which made it a prime destination for capitalist corporations, leading to unprecedented growth. Apart from the availability of a pliant, billion plus population, what has contributed to the long term growth is the Chinese having zero qualms about stealing IP and copy-pasting,enabled by individual interests in the West.
So as @mu_enrico said, Go away CCP shill, we do not get fooled by the likes of you in the bitcoin world.