SHANGHAI—China’s abrupt devaluation of the yuan this week is stark acknowledgment from Beijing that its domestic economy needs help, a vulnerability that Chinese policy makers have played down during the escalating trade conflict with the U.S.
The yuan’s slip to below 7 per U.S. dollar put the Chinese currency at its weakest point since 2008—and aligned it closer to economic trends that have pushed growth near quarter-century lows. The currency’s fall of about 3% Monday in offshore trading hit global markets hard as investors...
Source: Financial Digest (financialdigest.net)
So by a. 'allowing' can we all agree that they are in fact a currency manipulator.....and b. Events are no longer in government control...its a $ liquidity issue
Exactly. Winning!
When ever you are ready you can admit President Trump is smart and forced the hand on the Chinese.
just like the case for a weaker dollar. cc: realDonaldTrump
🔥🔥🔥 🔥 🔥 🔥 🔥 🔥 🔥 🔥🔥 🔥 🔥 🔥 🔥🔥 🔥 🔥🔥 🔥 🔥 🔥 🔥 ALL 🔥🔥🔥 🔥 🔥 🔥🔥🔥 🔥🔥 🔥 🔥🔥🔥 🔥 🔥 🔥 🔥 🔥 🔥 ⚡🚀LONG BITCOIN🚀⚡
Thr article never really got into the real reason to devalue. Political advantage. China knows trump is weaker going into 20.
It's still China's fall, China's long freezing economic winter is ahead and is going to last for years going to shrink its economy. Situations like Hong Kong are going to be accelerators for economic turmoil and have ripple effect across the mainland. Trillion$$ capital flight
What do they say in this situation? 'Good morning after supper'?
US winning.
😂 stalled at 3 times faster than US growth rate. Except US economy is nowhere near 3 times bigger. PROBLEM
Allowing means China is letting market has more say on the exchange rate.
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How China, Branded a Currency Manipulator, Steers the YuanThe U.S. Treasury has labeled China a currency manipulator. This escalation in the U.S.-China trade war has rattled global markets, and investors are wondering how much further Beijing will let the yuan fall. Here’s a look at how China’s hybrid financial system works. China as always Dirty and smoky Each stimulus they do needs more and more to work. Soon, $3t won’t be enough China has the will to win a trade war
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