Posted on 08/05/2019 1:39:32 AM PDT by cba123
The Chinese yuan fell more than 1% on Monday, dropping below the 7-per-US-dollar mark for the first time since the global financial crisis.
The dip came days after Beijing warned it would hit back at US President Donald Trump's threat to impose new tariff hikes on Chinese goods.
The yuan was trading at 7.024 to the dollar on Monday morning — its lowest level in more than a decade.
(please see link for full article)
America and China had an agreement several months ago.
China the BACKTRACKED on the agreement.
My suggestion to China, is you ask President Trump, real nice, whether that deal is still on the table.
It might not be any more, but it seems a good place to start.
Sorry I misspelled “the”.
“The”.
:)
Anyway here’s the link:
https://amp.dw.com/en/chinas-yuan-slips-to-11-year-low-amid-trade-war/a-49893036
This will hurt china, maybe even start its collapse, they have monstrous debts that are valued in dollars NOT yuan and their banks and corporations were already tottering.
I don’t think they devalued on purpose, I think they are lose the battle to support the yuan.
“losing”
China mostly controls the price of the Yuan (not like Western currency free markets)....this is one of their “pay-back” moves in response to tariffs...cheaper labor costs for China and boosts exports thru cheaper priced exports for foreigners.
Stock market crashing at the moment.
You are "all for" what? The slumping Chinese yuan? This currency devaluation is going to make the tariffs LESS EFFECTIVE.
I am all for SOMEONE to stop selling out the nation I grew up in, which used to PRODUCE THINGS.
Trump, seems to finally be standing up for AMERICA.
It is about darned time.
I believe the goal is not to stabilize trade with China but rather to get American manufacturing to leave China - preferably to return to the US. China does not deal with its treaties in good faith; better to just not do much business there.
I had predicted that China would sue for a reasonable compromise; I was wrong. Aside from American traitors convincing the Chinese to hold out for the outcome of the upcoming US election, it is obvious China has become addicted to the dollar.
How will the weakening Yuan affect Chinses students studying on the US...and Chinese investment in Hollywood?
TAnk RENMINBU , tank!
XE currency converter chart:
https://www.xe.com/currencycharts/?from=USD&to=CNY&view=1Y
Yes, and no one should be cheering that. That would be economically bad for the rest of the world. It’s a shame we’ve kissed their ass so much since the Clinton days.
Trump just called them out for currency manipulation. He can take the case to the World Trade Organization.
He’s doing to China what Reagan did to Russia but with trade instead of an arms race.
I’m no economic expert but couldn’t the USA use the devalued yuan to buy down our Chinese debt?
Why bother....... they own the paper and consider it as a good investment.
For us, it is not a problem
“Yes, and no one should be cheering that. That would be economically bad for the rest of the world. It’s a shame we’ve kissed their ass so much since the Clinton days.”
We might need to bight the bullet, China is the greatest danger to liberty and America in the world today.
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