China, Citigroup Agree: There's No Need for Big Yuan Devaluation | Bloomberg "While China’s exports are slowing, they’re still edging out competitors. The country’s share in global exports surged to an unprecedented 15 percent this year, from 8.7 percent in January 2010, according to data compiled by Bloomberg. The ratio increased even as the inflation-adjusted yuan rate appreciated 33 percent against its major trading partners. ... Chinese exporters are resilient amid the yuan’s appreciation partly because it’s difficult for companies to replicate the manufacturing system, including infrastructure, supply chain and skilled labors, in other countries, according to Alex Wolf, an economist for emerging markets at Standard Life Investments Ltd. ... The importance of overseas shipments as an economic growth driver has been declining. Exports accounted for 23 percent of the economy last year, compared with a peak of 36 percent in 2006, according to the World Bank."