Dow plunges more than 950 points after China devalues its currency

Re:Dow plunges more than 950 points after China devalues its... by dsalso on Monday August 05, 2019 @02:47PM (#20617176)

Not exactly, it depends on the particular good. The price in yuan could stay 100 or not move as much. In that case your purchasing power has increased

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Re:Dow plunges more than 950 points after China devalues its... by jermaustin1 on Monday August 05, 2019 @02:49PM (#20617212)

So its a great thing for the US if we want to import more stuff?

So its basically saying: I see your 10% Tariff and raise you a 10% discount!

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Re:Dow plunges more than 950 points after China devalues its... by jeremy_wiebe on Monday August 05, 2019 @03:35PM (#20617894)

But doesn’t that also raise Chinese import costs the same amount? Or is that where Chinese tariffs in the things they import come into play (like Canadian canola, etc)?

This feels like a sort of race to the bottom.

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Re:Dow plunges more than 950 points after China devalues its... by internet_user on Monday August 05, 2019 @02:53PM (#20617262)

great for consumers, devastating for the whatever hobbled manufacturing base left in the US.

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Re:Dow plunges more than 950 points after China devalues its... by skybrian on Monday August 05, 2019 @02:54PM (#20617282)

Pretty much, although with more revenue for the US government.

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Re:Dow plunges more than 950 points after China devalues its... by voodooranger on Monday August 05, 2019 @02:52PM (#20617255)

in the aggregate if you devalue a currency so that it’s worth half of what it was, won’t prices in that currency double?

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