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Yuan Devaluation or Inevitable ‘Dollar’?
Tuesday, August 11, 2015 12:20
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by Jeffrey P. Snider
Alhambra Partners
Going back well more than a year now, every time the PBOC takes some kind of action it is classified immediately as “stimulus.” Last July, the Chinese central bank opened its PLF to China Development Bank and it was heralded as a renewed age of traditional monetarism if in unfamiliar formatting. In November, the first rate cuts since 2012 were talked about in the same manner; that repeated every time there was another “rate cut” (four of them so far). Each and every time the euphoria over the return of “stimulus” extrapolated into the economic bottom it was only to be almost immediately disappointed.
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Source: http://financialsurvivalnetwork.com/2015/08/yuan-devaluation-or-inevitable-dollar/?utm_source=rss&utm_medium=rss&utm_campaign=yuan-devaluation-or-inevitable-dollar
