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Post by snowsilver on Aug 13, 2015 14:38:29 GMT
I am not financially savvy enough to know whether to worry or not, but I do see some concern from various gurus.
China has devalued the yuan and apparently it came as a shock to the world. I'm seeing rumblings in small news articles that it could be bad for us--especially in some of the major stock companies.
Anyone got a take on this? I'm interested.
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keithurbanlovinpea
Pearl Clutcher
Flowing with the go...
Posts: 4,302 
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Post by keithurbanlovinpea on Aug 13, 2015 14:49:54 GMT
By devaluing the yuan, officials hope to make Chinese goods cheaper for citizens to buy (and foreign good more expensive) thereby stimulating the Chinese economy because their constituents buy more Chinese goods. But US investors are freaking out that US products will become more expensive for Chinese consumers and companies to buy and then, for obvious reasons, Chinese consumers won't buy them and US companies will lose out on a huge market for their products. Also, the yuan is a stabilizing force in the region, it's caused Asian currencies to take a serious tumble.
Edited because my spelling was horrific!
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StephDRebel
Drama Llama
Posts: 6,692
Location: Ohio
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Post by StephDRebel on Aug 13, 2015 14:58:01 GMT
I'm shocked you can buy American products in China...I can barely find them here!
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BarbaraUK
Drama Llama
Surrounded by my yarn stash on the NE coast of England...............!! Refupea 1702
Posts: 5,961
Location: England UK
Jun 27, 2014 12:47:11 GMT
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Post by BarbaraUK on Aug 13, 2015 15:11:02 GMT
This is what the financial people are saying about it here in the UK:
Chinese export figures are declining at the moment so they are also saying that the Chinese government could be trying to avoid job losses by making their goods cheaper abroad.
They are also adding that -
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Post by MichyM on Aug 13, 2015 15:28:44 GMT
I'm shocked you can buy American products in China...I can barely find them here! I think you have to look beyond what you (a general you) think of as American made. Top U.S. Exports to China The top U.S. export to China was computers and electronics, representing about $13.9 billion. The second-largest U.S. export to China was crop production, representing about $9.2 billion in exports. The third-largest U.S. export to China was made up of chemicals, representing about $8.7 billion in exports. The fourth-largest U.S. export to China was transportation equipment, representing about $7.6 billion in equipment; tying with equipment was waste and scrap, also representing about $7.6 billion in U.S. exports to China. From THIS article
I live in Washington state, we are second to California in exports to China. Some of our exports to them include airplanes, apples, wine, and Almond Roca (yes, really). |
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Post by Yubon Peatlejuice on Aug 13, 2015 16:49:14 GMT
Sell your Apple stock. Other than that, I wouldn't worry too much about their currency. I would worry that this signals a big slowdown in their economy though. . |
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Post by Yubon Peatlejuice on Aug 13, 2015 16:50:13 GMT
Not sure how my post is showing up as a quote. Damn Apple phone.
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ashwyness
Full Member
Posts: 186
Jul 22, 2014 17:33:23 GMT
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Post by ashwyness on Aug 13, 2015 16:56:25 GMT
Did you know that your Apple phone memory is made by Samsung, in Austin TX?
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Post by Yubon Peatlejuice on Aug 13, 2015 17:29:39 GMT
Did you know that your Apple phone memory is made by Samsung, in Austin TX? so? |
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Post by ntsf on Aug 13, 2015 17:43:45 GMT
I wouldn't sell apple stock---time to buy it...all the downturn in not in fundamentals...but speculation. they have so much cash, so much profit and so far to expand...selling is not the answer in mho...and I have some good reason to know...
apple products are built all over the world.
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Post by Yubon Peatlejuice on Aug 13, 2015 18:33:29 GMT
I wouldn't sell apple stock---time to buy it...all the downturn in not in fundamentals...but speculation. they have so much cash, so much profit and so far to expand...selling is not the answer in mho...and I have some good reason to know... apple products are built all over the world. This has absolutely nothing to do with where Apple products are built. I believe the stock was already overvalued (you may or may not agree - that is your right). Add in an economic slowdown in China and currency deflation and the largest growth economy on Earth suddenly has much less purchasing power. |
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