Analysis: Yuan loses core support as firms leave China

News Snapshot:

People walk along an elevated walkway at the Pudong financial district in Shanghai November 20, 2013. REUTERS/Carlos Barria/File Photo SHANGHAI/SYDNEY, Aug 7 (Reuters) - Since China opened to foreign investment in 1978 under Deng Xiaoping, global firms have ploughed in hundreds of billions of dollars to buy and build factories for market access and cheap labour, bolstering the Chinese currency. A gentle downtrend in foreign direct investment gave way to a steep drop last quarter and inflows to China slammed to their lowest since records began 25 years ago, raising the prospect that the long-term trend is turning. Corporate leaders...