Chinese Yuan lowered to lowest point in 11 years. China responds to Trump's Tariffs with bans on US Farm products and other measures, including crashing their Yuan to the lowest point in 11 years. Go Trump! The currency-manipulating, IP-stealing, unfair trading Communist Central Government is panicked. With the best economy in decades, the US is in a great position to finally correct the deplorable Chinese trade practices. Just wait until the Chinese workers begin to riot in the streets because a whole generation of young workers has known nothing be full employment and high GDP growth. https://www.bing.com/amp/s/qz.com/1681448/as-yuan-breaks-7-chinese-officials-take-solace-in-poetry/amp/
And SPY dropped 3% at the same day. Whats the problem of all the politicians?
Nothing’s gonna change. Once you notice how much treasury securities is held by China and Japan, you’ll know how fucked US is right now.
I love how the Trump supporters are calling this a win. Can't wait until Trump capitulates and you call that a win too. So much winning! We all know how this is going to play out. Just look at NK. Trump manufactures a crisis. Trump makes a deal without any major concessions given. He declares victory and his mindless idiot supporters cheer. So glad he stopped NK from continuing missile testing. We have such a stable genius for a President.
Hey Genius, what deal was that he made with NK?
He saved us all from nuclear annihilation by posing for a photo op, don't you remember? Now when NK tests its missiles, there's nothing to worry about because Rocketman and President Dotard are best friends.
Idiot...NK meeting was relationship building...there were no asks, other than to keep speaking. Recent NKO missles were not intercontinental ballistic missles, so were not against previous asks/commitments. Tell us what Obama, Bush 43 or Clinton did right with NKO?
Simply because they just stopped manipulating their currency from today lol...
And treasury department immediately put them on “manipulator” list.. and many American ppl brainlessly celebrate for it... this is so funny.
Trade war to currency war. It’s very easy to claim there’s a “win”. Only stupid ppl buys it. Ask a economy professional about the “currency manipulator” rule/law today - then you’ll know how unusual it is happening today (not April/October). Also ask a professional whether you as a mid-class worker should really celebrate for it today.
All this shows is that China has more arsenal up their sleeves. Meanwhile all we can do is lower interest rates. What’s your point OP?
My point - stop buying any Chinese branded products, lean towards products produced in the US first, other countries second, and China dead last. Don't let the simple-minded folks from mostly the left side strike fear in you - China sells more to us than we do to them, so do the math. This is a 21st century cold was fought on economic turf. BTW, probably best to rebalance your portfolio too. It's also a shame to see what the Chinese are doing to take advantage of emerging economies like in South America - public works project funding and political bribes to gain access to natural resources.
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Weak yuan = more Chinese exports. We crashed our economy to increase Chinese exports. Why do we want that again?
We didn't crash anything...markets have overreacted. Chinese lowered Yuan to try to make up some of the losses to sales to the US. We either swallow a little short term pain now or massive devaluation of our economy in the future. MAGA
It also means the middle class has less purchasing power that’s kind of a big deal