You most probably read about the YUAN devaluation in recent days. Taking a broader picture at WHY THE FED central bankers are stupid BEYOND INFINITY. I will present some charts to think about it:
Well the biggest money printer is actually the PBOC and not the FED. That is why the yuan deal is such a big news
And all of those carry trades are the thing that finally "broke" the markets to some extent...Now, the Fed is even more boxed in with their rhetoric...China has/had no real concerns for blowing out all those highly leveraged funds that could count on a perpetually dovish Fed.