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Thread: China devalues currency, causing other currencies to fall.

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    China devalues currency, causing other currencies to fall.

    This just came to my attention here in NZ.

    http://www.stuff.co.nz/business/indu...cy-devaluation

    The New Zealand dollar has taken a big fall after China's central bank unexpectedly devalued its tightly controlled currency.
    The Australian dollar also plunged on Tuesday as investors snapped up US dollars after China devalued. The Australian dollar was collateral damage as the US dollar shot up.

    The aussie dropped from US74.4c to US73.5c within minutes. Other regional currencies, including South Korea's won and the Singapore dollar, were also hit.

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    The devaluation of the RMB has been talked about for years. S'posed to caused seismic shifts in the world economy. I wonder how it will affect Taiwan and the UK.

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    Aragorn (11th August 2015), bsbray (11th August 2015), enjoy being (11th August 2015)

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    China's currency falls for second day after devaluation jolts global markets

    http://www.newser.com/article/b1e3e8...l-markets.html

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    I talked with a friend about this last night, and it can only be a good thing for Taiwan and me personally. I sell things in dollars, so it means my goods just get cheaper for overseas buyers. And it will hopefully help the rural poor in China, by stimulating export markets and factories.

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    I am guessing you are meaning the US dollar?

    It will remain to be seen. The NZ dollar was in the USD$0.80 range for quite some time and had dropped recently. I buy products at times from China, and the prices are in USD. I am not really completely sure how it all works (naturally).. but I will not be making any more purchases there or from US stores until the rate changes, if it does.

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    It does mean that it will stimulate purchasing of chinese goods as they will cost less, but of course the usa will freak and slap a tariff wall up to protect jobs and such locally
    some people are very concerned, but it is a necessary step in the whole BRICs plan which was known about for a long time already, however the us dollar hegemony will do what......???? will they seek to remain numba 1, and play dirty as usual, or will they be more copacetic..... time will tell.

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    Yes, the USD.

    So this means the USD can now buy more TWD and RMB, correct? If so, that is good for me, as I don't buy anything from overseas.

    The only way out of this is microfinance and crowdfunding. Once a critical mass of money starts flowing through Kickstarter, Earth's Sleeping Giant economy will start to awaken. You need about 100million to 1 billion going through crowdfunding per day to start a real Rennaissance. Yes, I know that is a tall order. I know that it could take decades, but there is no other way. Financing has to decentralize. Right now, 2 million a day goes through crowdfunding.

    The economy cannot be controlled by shadowy unaccountable groups any more.

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    explosion today in Tianjing Ruihai hazard material warehouse


    Source: https://www.youtube.com/watch?v=MHQPX2TJPQc

    Tianjin Port, the largest man-made sea and river port in mainland China
    The port is an important link in the transportation system connecting Beijing, Tianjin and Hebei Province.
    Tianjin Port is only 160km southeast of Beijing and forms a natural catchment area for economies based around the capital city
    The main industrial sectors in the area include petrochemical industry, textiles, car manufacturing and mechanical industries.

    http://www.foxnews.com/world/2015/08...olicy-climate/


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