Tuesday, August 18, 2015

China's War on America - Devaluing the American Economy


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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