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  #1  
Old 08-11-2015, 06:29 PM
Terri Terri is offline
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Default China has devalued its currency.

I don't really have any details.

Other countries have done the same and it didn't affect anybody else that I could see: it meant that their own citizens had to pay more if they shopped overseas but I did not notice any change!

But this is China, and China is both huge and powerful. Is this likely to affect the world?????
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Old 08-11-2015, 08:19 PM
wildturnip Female wildturnip is offline
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Wasn't that one of the things on some watch lists that would be a warning to prepare to bug out to your retreat? I may be all wrong but seems like I remember something like that.
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Old 08-11-2015, 10:49 PM
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MissouriFree MissouriFree is online now
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It makes thier manufacturer export goods more affordable to rest of the world .
Dollar rules.
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Old 08-12-2015, 11:55 AM
Terri Terri is offline
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Quote:
Originally Posted by MissouriFree View Post
It makes thier manufacturer export goods more affordable to rest of the world .
Dollar rules.
It might be an attempt at a power grab, then. I remember when "made in Japan" meant the item was cheap and tacky, but they used the income to make better quality items, and now Japan is a contender!

I think the NEXT step in the "head for the hills scene" was a country going bankrupt: I d not know which one but it was not Greece. Ah, well, I am going to stay where I am at, and I have the garden, the chickens, and there is a little rice stashed in the basement.

Last edited by Terri; 08-12-2015 at 12:00 PM.
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Old 08-12-2015, 12:58 PM
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MissouriFree MissouriFree is online now
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Terri, the Chinese economy is faltering . This devaluation is an attempt to spur the economy by making thier good more affordable overseas. I suspect it will work when combined with cheap oil prices that make shipping cost of those goods to us much cheaper.
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Old 08-12-2015, 02:14 PM
wildturnip Female wildturnip is offline
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I wish I could remember where I saw that list! We are at our "retreat", where we lived for years. Best place to be for now at least.
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Old 08-12-2015, 07:22 PM
offtheradar Male offtheradar is offline
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The big problem with devaluing the currency is that it will cost them more to import the raw materials to make their cheap goods. China imports most all of its raw material. They may not be able to import as much which will have a dommino effect on the suppliers.
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Old 08-13-2015, 06:37 AM
Doninalaska Doninalaska is offline
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We get all excited if our economy grows by 2%. China is upset because theirs only grew 8%...down from 11% last year. They devalued to boost exports...mostly to the US.
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