Chinese Policy Expert Speaks Exclusively With Fox 40 On China's Economy
China's been making moves with its currency. The devaluation of the Yuan sent waves to other parts of the world. It affected markets in the US as well as places such as Latin America.
However, we spoke today with Chinese policy expert Harry Wu in Washington, DC. He says China's economy cannot be judged in the same way as America's.
Wu said, "All the money is controlled by the Communist members. It is not so-called ownership, belonging to the people. The population is the biggest in the world. But it is a totalitarian regime. It's a Communist regime. It is different from America."
Looking at stand-alone nations, China is the second largest economy on earth. If the European Union is taking into account, China is number three.