China's desire for a strong currency is facing obstacles due to the potential return of Donald Trump, who has promised to impose high tariffs on Chinese goods.

If these tariffs are implemented, analysts predict that the dollar-yuan exchange rate will stabilize around 7.5, putting downward pressure on the yuan.

Some experts even forecast that the yuan could reach a 17-year low against the dollar by 2025, with a potential decline of about 10%.

The current economic situation indicates that the yuan is more vulnerable than during the previous trade war, as Chinese government bond yields are much lower than those in the U.S.

Moreover, foreign investment is decreasing, economic growth is inconsistent, and deflationary concerns may lead to further interest rate reductions.

While the People's Bank of China is expected to support the yuan to maintain financial stability, a renewed trade conflict could prompt the central bank to allow for greater depreciation in order to protect exports and strengthen China's negotiating power.