THE ECONOMIST'S SPECIAL REPORT: CHINESE YUAN ON THE BRINK OF COLLAPSE SIGNS ARE ALL ON THE SKY CATASTROPHIC CONSEQUENCES FOR EAST ASIA IF CHINA DOES NOT IMMEDIATELY DEVALUE THEIR CURRENCY!
>THE worst thing that could happen in East Asia now would be if the Chinese yuan, so far untouched by the turmoil, were to collapse, prompting another round of competitive devaluations throughout the region. China’s banking system is even shakier than South Korea’s or Thailand’s because of heavy lending to loss-making state enterprises and property speculation; non-performing loans are already reckoned to make up nearly a third of total bank loans. Moreover, China’s economy was slowing down even before the regional crisis began, and now its exports will be squeezed by its neighbours’ devaluations. Even so, for the moment China looks unlikely to devalue. >economist.com/node/115027 >web.archive.org/web/20110526082228/economist.com:80/node/115027
Kek didn't they start trading oil futures in yen yesterday?
Logan Rogers
Dow Jones were cracking since 3 weeks
Leo Hall
Is this the reason why America sold most of its debt to China? Cuz fk it we not gonna pay, and we gonna trade war while China plays with their monopoly money? - someone intell pls respond!
