China's Currency Move (Devaluation) Will Hurt One Country More Than Any Other (Brazil)

BI ^ | 8-11-2015 | Linette Lopez

[blam]

Linette Lopez
August 11, 2015

There is one country that stands to suffer more than any other from China's decision to devalue its currency: Brazil.

China is Brazil's largest export market, gobbling up 50% of the iron ore, oil, and other commodities that the South American nation sends around the world.

The devaluation of the yuan threatens to lower the already record low prices of those commodities.

"Our commodity team has estimated that a 1% move in CNY is associated with a 0.5-0.6% decline in USD commodity prices," said Bank of America in a note following the yuan devaluation.

It's a blow to a country that is already in disaster mode.

At the car wash

Imagine a country with an inflation rate of almost 10%. It has a president with a 7% approval rating. The country's GDP is set to contract 2.4% in 2015. The home currency has lost a quarter of its value since the start of the year. There is a multibillion government corruption scandal attacking the national psyche.

That country is Brazil.

(snip)

[blam]

I suppose when we stop clicking on these ridiculous headlines, they'll begin to write realistic ones.

Brazil has the largest Black population than any country outside Africa...they are self-described, 50% Black/50% White.

[blam]

China Devalues Its Currency as Economic Slowdown Raises Concerns

[mlo]

"Brazil has the largest Black population than any country outside Africa...they are self-described, 50% Black/50% White."

So?

[Steely Tom]

I just read something yesterday about a world-wide “collapse” in commodity prices.

[nickcarraway]

Brazil has the largest Black population than any country outside Africa...they are self-described, 50% Black/50% White.

What does that have to do with anything? Also, Brazil's treatment of race is completely different than the U.S. the 50/50 stat probably doesn't mean much. A Brazilian could talk about being black and white. That's how they look at it there, compared to here, where you are usually considered one or the other. What does that have to do with currency?

[blam]

"So? "

Just something I read recently.

Other things I know about Brazil:

* It's about the same size as the US. (land area)

* Has a population of about 200 million.

* The Amazon River runs through the country...And, the Amazon flows more water than the next 10 largest rivers.

[ChicagahAl]

Brazil has the largest Black population than any country outside Africa

Their economy is a disaster because they keep electing Marxist Presidents.

So, I'm guessing that your point is that the "Obama Voter" half of the population is mostly responsible for that.

Because... Free Stuff!!!!

Brazil

Or...

Brazil