U.S. has been accusing China for keeping its exchange rate artificially low, and thus pushing Chinese to appreciate their currency. Back in 2011 U.S. Senate was approved a bill to punish China for an undervalued currency. China had been refusing the request for the last decade Watch the following video:

http://www.youtube.com/watch?v=WQQtreKkljg&feature=youtu.be

But recently the Yuan dropped the most in two decades, sparking a tumble in Asian currencies after China devalued its exchange rate to combat an economic slowdown. Take a look the following video links:

http://www.cnbc.com/2016/12/15/china-yuan-weakness-prompts-support-measures.html

http://www.cnbc.com/2016/01/07/chinese-yuan-heres-whats-happening-to-the-currency.html

What were the main purposes for Chinese to deliberately appreciate dollar against Chinese Yuan? Do you think the recent devaluation (i.e. depreciation) of Yuan helps China to fight the recent economic slowdown? What is the reason for the recent devaluation of Yuan against dollar?