We have known for a long time that China's financial system has been in big trouble. They tried a number of different measures which did not work. The only option left was to devalue the yuan and that is what they are doing. They may be just getting started.
The U.S. dollar is up sharply against the Chinese yuan since mid November 2015. I have been following this development very closely and will continue to do so.
China markets could be setting up for the next major leg down.
No comments:
Post a Comment