A floating exchange regime did not prevent large and persistent departures from external balance. Many blamed China for the large global imbalances of the 2000s since China refused to allow a free-floating. If the Chinese yuan had been free to appreciate in the foreign exchange market, China's surpluses and the corresponding U.S. deficit might have been smaller. Please explain how China can keep the exchange rate depreciated. [Hint; you can think of it based on the trilemma (Impossible trinity)]