Bringing Data and Intro Econ to Discussions of China's Currency Devaluation

The NYT went a couple of miles over the top with Peter Eavis' analysis of China's currency devaluation. It begins by telling readers;

"For years, China looked like the principled noncombatant. As other countries, seeking to secure an economic advantage, let the value of their currencies slide on international markets, China held firm on the value of its money."

"The principled noncombatant?" What are they smoking over there? China accumulated more than $4 trillion in reserves to keep its curr...