Bloomberg comments: "Chalk up China as another example where a cheapening exchange rate is failing to lift exports. 'The support from a weaker yuan is negligible compared to the pressure we face from rising labor and materials costs,' said owner Sandy Chang. 'Foreign demand is already down. When growth is slow in our major markets, people just don't buy.' That tepid demand...means factories are yet to get a sustained shot in the arm from a currency that's weakened 9 percent against the dollar since August 2015....'China's not going to get much out of anything from further currency depreciation in a weak global economy,' Stephen Roach, a senior fellow at Yale University and former Morgan Stanley non-executive chairman in Asia, said...'You can cut your relative prices through depreciation, but if you don't have the external demand the impact is going to be limited.' With scant evidence the softer currency is doing much good for its vast manufacturing sector, officials and state-run media last week stepped up efforts to curb yuan depreciation concerns, talking up the currency as it traded near the weakest level in six years."