Suche
Mein Konto
Trump shock! Yuan's nosedive after election victory sends China into a tailspin
After Trump won the US election, the Chinese yuan fell to a 14-month low, pushing BRICS to settle with the US dollar.
Trump shock! Yuan's nosedive after election victory sends China into a tailspin
Trump is back in the saddle and that is putting a lot of pressure on the Chinese currency! After the surprising triumph over competitor Kamala Harris, the Chinese yuan fell to a 14-month low. The shock among the BRICS countries is deep, because at the same time the US dollar index, the DXY, climbs to a whopping 107 points! What a flight of fancy! Find out more at watcher.guru.
That's not all: In a fiery interview, Trump threatens to impose a 100% tariff on all goods from China if trade is conducted in yuan instead of dollars. China's economy, which is heavily geared towards exports, would groan as a result. Analyst Shen Dingli from Shanghai warns: With Trump at the helm there are new opportunities, but also high risks for China! And as if that wasn't enough, other BRICS countries are also suffering: the Indian rupee is tumbling to a record low of 84.47. The full analysis can be read at watcher.guru.