China's currency move could help it join IMF's elite forex club

China's move to revamp its currency regime this week may help the yuan earn a place in the small group of currencies the International Monetary Fund uses as a global benchmark, despite concerns the policy change could begin a round of competitive devaluations. Beijing described its surprise devaluation of the yuan's value on Tuesday as a one-off step to make the currency more responsive to market forces, but some critics saw it as a thinly veiled effort to make China's exports more competitive a