Market participants lose out as renminbi volatility increases

Over the past few years, the Chinese government has grown fond of flexing its new-found economic muscles. Cities have shot up into existence, and factories and power plants built at a rate of knots. All this new hustle and bustle is knitted together by thousands of miles of bullet-train track that barely existed half a decade ago. 

In recent months, Beijing has set its sights on the value of the renminbi. Historically, it has been a tightly controlled currency with little volatility, and over