China Is Luring the World to the Yuan—and Hobbling Western Sanctions

TL;DR

China Is Luring the World to the Yuan—and Hobbling Western Sanctions China Weakens Yuan Fixing for Fourth Session as Dollar Advances China Detained Two Japanese in May on Suspicion of Smuggling China has detained two Japanese nationals suspected of smuggling banned goods, Tokyo said on Wednesday after media reported that an employee of a major Japanese electronics firm was among those arrested in a case involving rare earth-related exports. The arrests could further strain relations between Asia's top two economies which have plunged since comments by Japan's leader Sanae Takaichi on Taiwan sparked a major dispute with Beijing late last year. China notified Tokyo that a Japanese national had been detained in the port city of Dalian on May 18 on suspicion of violating a law against smuggling goods prohibited from import or export, Japan's top government spokesperson Minoru Kihara told a news briefing on Wednesday.