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China's economic slowdown and unprecedented devaluation of Yuan
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China's economic slowdown and unprecedented devaluation of Yuan

  #1 (permalink)
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China's economic slowdown and unprecedented devaluation of Yuan

Now two days in a row PBOC has devalued the Yuan.

Why would they do this (two back-to-back announcements)? I have my suspicions, which include them doing it again tomorrow...

Thoughts?

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http://www.zerohedge.com/news/2015-08-11/yuan-collapses-stocks-slide-credit-risk-hits-2-year-high-after-china-devalues-curren

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Mike

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Is there precedent for this? Adjustment two days in a row?

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They build 12-24 new cities a year with no one living in them. I think it's now starting to catch up to them.


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The precedent


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Is there precedent for this? Adjustment two days in a row?

"China’s central bank set the yuan’s reference exchange against the dollar largely in line with where the currency last traded, reflecting Beijing’s pledge to let market forces dictate the currency’s future direction."
Full Article
Does it mean that they PBOC will continue to change the reference rate as long as the "off shore" market continues to trade the value of the yuan to levels outside of it's tolerance band? It's that opinion that I'll be looking for in the media tomorrow.

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Dumbfounded................


Itchymoku View Post
They build 12-24 new cities a year with no one living in them. I think it's now starting to catch up to them.


wow cray cray.....

thx much @Itchymoku for posting this my wife and I are sitting here dumbfounded......

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pop goes the weasle


Blash View Post
wow cray cray.....

thx much @Itchymoku for posting this my wife and I are sitting here dumbfounded......

If this isn't something to be very scared about I don't know what is. It's the most text book definition of a bubble if there ever was one. Honestly what is the solution? Think about who America owes money to. How can America borrow money from someone who doesn't have it?

https://upload.wikimedia.org/wikipedia/commons/9/9d/Composition_of_U.S._Long-Term_Treasury_Debt_2000-2014.svg

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Interesting video. And that was 4 years ago?

Sent from my phone

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http://finance.yahoo.com/news/5-ways-chinas-devaluation-could-185219409.html

idk maybe there is a bright side, it's kind of too early to tell. The housing thing is pretty scary though because I don't see how they have enough people with suitable incomes to afford to live there anytime in the near future. The average Joe can't just change his job and make an extra 20k or more a year, or what they're saying 45 times what they're currently making. The video is definitely a few years old and it's not the only one. There's other stories about it too, but the 60 minutes one did a good job of explaining it.


Last edited by Itchymoku; August 12th, 2015 at 12:48 AM.
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