In the News: China's Currency Devalues; Shanghai FTZ Expands; Chinese JVs Set for Foreign Control; and UN Mediation Convention Signed

The U.S. Treasury labels China a currency manipulator after China's currency falls below seven to the dollar; China announces plans to double size of Shanghai FTZ and reduce restrictions on foreign businesses; JP Morgan and Morgan Stanley one step closer to taking control of respective JVs; and China and U.S. sign U.N Convention on Mediation in Singapore