Guan Tao, a former senior official at the State Administration of Foreign Exchange, says long-term appreciation of the yuan could hurt job creation among small exporters, damaging efforts to boost ...

On the renminbi, Guan said the yuan has remained generally steady against the dollar, despite weakening following the new tariff announcement.

In that scenario, we cannot rule out a repeat of the 1930s Great Depression," Guan said. He drew parallels to the 1930 Smoot-Hawley Tariff Act, which drastically raised tariffs in the US.