You may not have noticed this, but the Renminbi has now surpassed the 7:1 ratio to the US Dollar. Bank of China is now listing the official rate at 6.99:1. The symbolism of this barrier is more important than the actual change, but it shows the long trend that has significantly sped up, particularly this [...]
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It’s getting to the point where you can’t find a product in China that doesn’t come from the US. The cars are Ford, the computers Apple, and the financial services are from New York. The artificially weak US Dollar has upset the natural balance of trade and distorted markets. Cup of Cha urges Congress to [...]
Continue reading “Message to US: Stop Manipulating the Dollar” »
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