– Jeremy Boulton is an FX market analyst for Reuters. The opinions expressed are his own –

By Jeremy Boulton

LONDON, Aug 13 (Reuters) – The United States and China are again on collision course over the yuan, bringing the threat of protectionism and the potential to tip the world back into recession.

An export led recovery, or at least a recovery aided by a more competitive export sector, has been seen as an easier option than boosting demand for governments trying to shore up their economies.