In August 2015, after the Chinese central bank moved to decrease the value of the yuan in exchange for the dollar, a column in the Wall Street Journal offered this opinion:
"China's trading partners are right to suspect that the real purpose of the so-called reform is a competitive devaluation that boosts exports and growth at the rest of the world's expense."
a. What does the writer mean by a "competitive devaluation"?
b. How would such a devaluation boost Chinese exports and growth?
c. Why would a boost in Chinese exports and growth come at the rest of the world's expense?