Previously it was tied to the dollar because there was a residual Chinese perception that the supply of US dollars was SOMEHOW scarce. In this way, the yuan would also somehow STAND for something.
By floating their currency, they’re stating they understand that the USA is out of control.
It’s like saying that you view someone clapping your scrotum between two bricks is A GOOD THING.
Hey, uh....that’s not good.
Yeah, and the moron in the WH can't see that.