Re:Chinese Yuan’s Ascent to Global Reserve Status: A Timeline
by Kenji on Saturday October 01, 2016 @06:33AM
(#12617297)
Both the Brexit effect and the speculative chaos you propose are very short term. The fluctuations do not correspond in any way to the performance of the state and economy backing these currencies. Therefore, I think that if it benefits CNY, then only for a short timespan. However, if the US really tightens the screws on international trade, it will suffer longterm and so will its currency.
(And yes, I find the prospect of closed markets, increased tariffs and the like dreadful. There is no reason for the US to do that. This is different from Brexit though, since the EU conditions free movement of people and huge bodies of law on the trade agreements. A post-Brexit Britain may have more free trade than ever before since it can do its own agreements with any country - like any sovereign nation should.)
Re:Chinese Yuan’s Ascent to Global Reserve Status: A Timeline
by tonyedgecombe on Saturday October 01, 2016 @10:20AM
(#12617946)
I don't see British trade expanding post brexit, we will almost certainly loose a substantial portion of our financial services and over time car manufacturing, the only trade likely to increase is tourism.
Re:Chinese Yuan’s Ascent to Global Reserve Status: A Timeline
by mark_l_watson on Saturday October 01, 2016 @10:13AM
(#12617922)
Another possible source of speculative chaos might be any fallout if Deutsche Bank collapses. I have seen some really negative news articles about DB lately.
Re:Chinese Yuan’s Ascent to Global Reserve Status: A Timeline
by ting_bu_dung on Saturday October 01, 2016 @09:08AM
(#12617688)
Actually, because of brexit, Europe will get rid of pro-China England, and will be able to impose alot of anti-dumping restrictions to China.
The following month will be the American elections and I expect the Brexit effect to repeat with the US Dollar after the result gets announced, since the average Joe will certainly vote for the candidate who proposed the less global-friendly economic policies.
Will the Yuan have a chance to benefit from the post-election speculative chaos?