Markets
reeled last week as China doubled down on its latest attack on America. Embroiled
in a currency war in effect that cost the U.S. GDP $430 billion in just the
last 12 months, China upped the ante and conducted their strongest attack on
America yet by breaking international law and performing the largest currency
devaluation in two decades – all in just two days. Economic reports for the
month of July 2015 revealed that China's exports were down by $10 billion. To counter that loss, China has illegally
interfered with foreign currency markets, artificially dumping the value of its
currency, (the Yuan). Already devalued
by nearly 40%, this latest currency manipulation make it nearly impossible for
American products to compete against artificially cheapened Chinese products. [more...]
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