China's yuan slumps to 11-year low, stocks fall as U.S. trade war escalates

But the currency later pared losses after U.S. President Donald Trump said on Monday he believed Beijing wanted to make a trade deal. Trump said China had contacted U.S. trade officials overnight to say it wanted to return to the negotiating table.

“This tit-for-tat escalation shows how unlikely a trade deal and de-escalation have become,” Louis Kuijs, of Oxford Economics, wrote in a note late on Sunday.Oxford now expects China’s economic growth could fall significantly below 6% next year, even assuming more policy support measures.“With the drag on GDP growth set to rise to nearly one percentage point before long, it is significant enough to warrant looser monetary policy and a weaker exchange rate,” it said in a note to clients.

“The PBOC has not yet signaled its bottom line for the yuan,” Cheung said, referring to the People’s Bank of China, the central bank.

Communists cannot be in a Free Market. This will never work. They are showing their true colors. There needs to be a way to control their abuses.

China's economy is built like a skyscraper, not a pyramid. A little instablility shakes the building, causing real worries about it toppling. Trump knows this is and is giving a little push to get what he wants.

Drop a little more for me, please!!!

Just as for all others also a negative pull

Not only Yuan has slumped, but most of the currencies has fallen, due to this nasty Trade War. Indian rupee lost its value by about 4%.

I feel bad for Mr China, his kids are acting up, his secrets are for sale it seems and now he's in personal trouble, again.

China better wake up!! POTUS fights FOR America not globalism!

Aww, how sad.

the escalation of US trade war would lead down gradation of Chinese Yuan to 11 year low and the stocks fall.

Smart China did not impact anything

There are no winners in a trade war. Both countries have proven their point. Enough is enough

They laughed and said it couldn’t be done. That China was already our equal and we should take their thieving abuse and just suck it up. Yet already realDonaldTrump has brought China to its knees. Which is why Xi sues for peace. Meanwhile, Free HongKong!

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