system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: What does it mean when someone says that China is "devaluing their currency"
gpt
They're making their currency worth less, compared to other currencies. They do this so people in other countries will find it cheaper to buy Chinese goods. There are other reasons to devalue a currency, but China in particular does it to make its exports cheaper

There are a couple ways to do this. One is for the government to guarantee an exchange rate-- promising to sell yuan in exchange for dollars (or another currency) at a fixed rate. This essentially pegs the value of the yuan to the dollar. Another way for China to devalue its currency is to make more of it. It can print off more money, or put more into circulation by buying bonds it's issued, replacing bonds in the market with money. (Curiously, it then owes money to itself). 

(Tangent warning) This is what some countries do to get out of a debt crisis. They devalue their currency by printing off large quantities of it, and then use the money they've printed to pay off the debt.