China lets yuan break 7-per-dollar level for first time in over a decade

Re:China lets yuan break 7-per-dollar level for first time i... by lambdasquirrel on Monday August 05, 2019 @12:10PM (#20615251)

We should frankly be terrified the world over. You could well say the developed world all over has been investment-driven since the GFC. At least China's errors are visible. The world needed an orderly deleveraging. Instead we get trade wars and nationalism.

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Re:China lets yuan break 7-per-dollar level for first time i... by duxup on Monday August 05, 2019 @12:38PM (#20615539)

>At least China's errors are visible.

I'm not sure I would describe it that way. There's a real lack of visibility in China I think.

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Re:China lets yuan break 7-per-dollar level for first time i... by lambdasquirrel on Monday August 05, 2019 @02:07PM (#20616580)

Those ghost cities are pretty visible. When negative interest rates enable a company like Color, and then Color goes away, there's little to show for it.

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Re:China lets yuan break 7-per-dollar level for first time i... by Supermancho on Monday August 05, 2019 @12:42PM (#20615582)

> orderly deleveraging. Instead we get trade wars and nationalism.

How else are you going to politically sell deleveraging? Nationalism ("made in america" stickers) weren't effective in the past. I do not believe it's going to be effective in steering capitalism now.

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Re:China lets yuan break 7-per-dollar level for first time i... by lambdasquirrel on Monday August 05, 2019 @02:08PM (#20616592)

"Made in America" didn't work. But the trade war seems to be "working" as far as marketing goes.

That all said, there was some news the other day that most of the farm bailout has gone to big agricultural firms, so there's that...

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