The article discusses China's exchange rate policy and its impact on the country's international competitiveness. The researchers look at the historical evolution of China's exchange rate policy and how it relates to the country's economic goals. They examine whether China has been manipulating its currency to gain a competitive edge. The researchers find that the Chinese currency's exchange rate is not significantly different from other currencies, suggesting that China may not be manipulating its currency as much as believed. This challenges the common view on China's exchange rate policy and suggests that artificial manipulation of exchange rates may not be a key factor in China's recent economic success.