Posted on 08/11/2015 4:31:24 PM PDT by BenLurkin
The devaluation was condemned by U.S. lawmakers from both parties as a grab for an unfair export advantage and could set the stage for testy talks when Chinese President Xi Jinping visits Washington next month given acrimony over issues ranging from cybersecurity to Beijing's territorial ambitions.
China's central bank set its official guidance rate down nearly 2 percent to 6.2298 yuan per dollar on Tuesday - its lowest point in almost three years - in what it said was a change in methodology to make the currency more responsive to market forces.
It was the biggest one-day fall since a massive devaluation in 1994 when China aligned its official and market rates.
The devaluation hit global equities and U.S. oil prices, with investors fearing a new currency war as well as declining Chinese economic momentum. The MSCI All World Index of global shares fell 1 percent.
(Excerpt) Read more at reuters.com ...
Bolshevik! Lord Foul will kowtow to his masters and apologize for America being a bully and just plain historically wrong, you know like when America saved China's ass from the Japanese in that little fracas back in the forties.
Ohhhh, WOOOHOOHOOOOooooo! “Lawmakers” are angry??
I hope they all f_______ d__.
Posturing and posing, the politicians are.
Elect Trump and this nonsense will stop. He will put in a tariff to offset this nonsense. The U.S. will get tariffs and have money to lower income taxes on individuals and corporations. U.S. manufacturing will be more competitive which will put Americans back to work.
I’m sure Congress will get to the bottom of this and make sure it never, ever happens again.
I got a feeling Trump is going to have something to say about this any minute now. 10, 9, 8, 7....
Oh, baloney. this crap won't end till the Fed is abolished. Trump doesn't even know what the Fed does.
Trump has an MBA from Wharton. He knows what the Fed does. Probably knows a lot more about the Fed and what it does than the other candidates do.
That’s right only the US can devalue its currency by endless printing more and more money
The other politicians running against Trump are so worried about their donations coming in from big daddy donors beholden to China that they don't even understand what currency manipulation is or how to stop it.Well even if these politicians were to try to understand what it means they couldn't but of course they won't because China owns them
I think Red China has bought many of the politicians in Washington.
As has Mexico.
yes . I agree.
It amazes me how so many here trust politicians who are owned by China and Mexico . all politicians are owned. what they don’t take donations from lobbyists or big daddy donors? of course they all do and want to advance their political career. any stated political ideology is secondary to them if it is even sincere at all.
I ask the posters why is Trump the only one talking against china or Mexico and they have no answer but they still blank stare trust their politician idols .
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