China’s renminbi hits 16-year low after exports tumble in August

[Paul Tudor Jones]

China’s renminbi hits 16-year low after exports tumble in August

Beijing under pressure for more economic support as manufacturing sector struggles to pick up

www.ft.com

China’s renminbi hits 16-year low after exports tumble in August​

China’s currency has fallen to its lowest point against the dollar since 2007 after exports shrank for a fourth straight month in August, showing how the manufacturing sector in the world’s second-largest economy is struggling to regain momentum.

 

[JohnnyDoe]

Nothing better for those of us who trade with China!

 

[Martin Everson]

Just what the US needs right now....lower cost Chinese goods

 

[jafo]

Nothing better for those of us who trade with China!

Exactly! Warren and Charlie say it best:

I absolutely despise Obama because FATCA started with him and he first stated that the Netherlands was a tax haven, so his overlords, the US financial institutions, can have a monopoly on offshore while he gets invited to speak for $1M per speech! How in the H*ll does anything this man says worth $1M??? He does NOTHING to improve society!

*BUT*...if tomorrow, Obama started selling Huawei P60 Pro smartphones at 20% cheaper than I can buy them directly from Huawei (assuming the phones are legit), I am buying Huawei phones from Obama instead of Huawei!

I couldn't care less if he had homosexual relationships with Larry Sinclair or not. If his price is 20% cheaper, he's my supplier

I have NO emotions as to China, USA, East, West etc etc. When I am hungry or want a drink, I never ask: "What is the provenance?"

 

[Dandyline]

Nothing better for those of us who trade with China!

They usually trade in USD so it doesn’t matter that much

 

[Cavaliere]

China’s renminbi hits 16-year low after exports tumble in August

Beijing under pressure for more economic support as manufacturing sector struggles to pick up

www.ft.com

China’s renminbi hits 16-year low after exports tumble in August​

China’s currency has fallen to its lowest point against the dollar since 2007 after exports shrank for a fourth straight month in August, showing how the manufacturing sector in the world’s second-largest economy is struggling to regain momentum.

Any totalitarian system ultimately responds to financial threats be restricting flight of capital and assets by unilateral restrictions which will necessarily lead to significant depriciation all the way to a total loss.

IN Russia the warning signs were present a decade ago, after Crimean annexation. Those who didn't heed them, have paid a huge price. China is not immune to these very same risks over the next 10 years. What do people think is going to happen to their holdings in China when it makes a move on Taiwan?

The supposed attractions were obviously a nonsense then, and remain so now. Yet its a lazy line which is easy to coach and which receives nothing like enough challenge. Its a marketing ploy, like ESG, or 'the Great Rotation' (remember that one?), utilized by useful idiots, (allegedly) active agents of the CCP, and the straightforwardly greedy.

One thing I keep pondering; given the continued huge trade surpluses the Chinese economy continues to run (or, at least, report), why has there been so much pressure on the FX rate? My kneejerk reaction is that domestic sources are desperate to offshore as much wealth as possible.

And when people say "foreign ownership of Chinese equities", does that mean actual shares in the companies themselves? Or shares in a legally meaningless shell company in the West that entitles you to nothing?

 

[Martin Everson]

Can't wait to order my new Huawei Mate 60 Pro to help exports and take advantage of exchange rate .

 

[Cavaliere]

Can't wait to order my new Huawei Mate 60 Pro to help exports and take advantage of exchange rate .

A wonderful device, is it really cheaper because of the low remninbi though? Where do you order the phone from overseas.

 

[Martin Everson]

Where do you order the phone from overseas.

Not seen it yet on Amazon.

 

[lacomaco]

Can't wait to order my new Huawei Mate 60 Pro to help exports and take advantage of exchange rate .

And also enjoy your new telecom partner which is the Chinese government listening

 

[jafo]

And also enjoy your new telecom partner which is the Chinese government listening

Any government can listen to my convos ALL they want as long as they don't Julian Assange me

PS. Fun fact: There has NEVER EVER been a case of extradition to China of a non-Chinese who never has set foot in China, unlike a Carlos case for example... An innocent man spent a year in jail, just because his name was Carlos

PSS. I actively follow extradition cases. One can NEVER be too careful! I have former college buddies who are practicing lawyers who work on extradition cases, so I get sent court filings to read regularly...

 

[Cavaliere]

There has NEVER EVER been a case of extradition to China of a non-Chinese who never has set foot in China, unlike a Carlos case for example...

CASE OF LIU v. POLAND it's not like China is not trying.

"In 2017-2018, in breach of the ECHR, the Spanish Courts approved the extradition of approximately 200 Taiwanese to China. The lawyers representing them attempted to file the case to the ECtHR, but it was rejected, and the extraditions were carried out. "

and it's also not true, there have been plenty of such extraditions, so better to not use WeChat mister.

 

[jafo]

CASE OF LIU v. POLAND it's not like China is not trying.

"In 2017-2018, in breach of the ECHR, the Spanish Courts approved the extradition of approximately 200 Taiwanese to China. The lawyers representing them attempted to file the case to the ECtHR, but it was rejected, and the extraditions were carried out. "

and it's also not true, there have been plenty of such extraditions, so better to not use WeChat mister.

I'm having such a hard time with people NOT focusing on the narrow legal issue, so I made a rudimentary highschool AP Truth Table:

Liu was scamming/defrauding people in China. He is also Chinese (please don't start with that Taiwan stuff...just like Puerto Ricans and Hawaiians are Americans whether they like it or not. Violence determines this).

This is simple. This is NOT the Teichmüller Space problem.

 

[Martin Everson]

And also enjoy your new telecom partner which is the Chinese government listening

Yup Chinese government can listen to my calls no problem as what you think they are going to do to me? Blackmail my a*s in Bahamas or recruit me as a spy in the Bahamas.....lol. I am more concerned if US was listening to my calls due to their extraterritorial practices and snatching people and sending them to black sites in Eastern Europe or Guantanamo bay .

 

[Cavaliere]

Yup Chinese government can listen to my calls no problem as what you think they are going to do to me? Blackmail my a*s in Bahamas or recruit me as a spy in the Bahamas.....lol. I am more concerned if US was listening to my calls due to their extraterritorial practices and snatching people and sending them to black sites in Eastern Europe or Guantanamo bay .

Fair point, but then the only reason China is not able to is because the "opposing countries" don't allow them to. If they could they would. Or are you telling me that the Chinese are above extraditing non-Chinese born if it serves their agenda?

 

[jafo]

Fair point, but then the only reason China is not able to is because the "opposing countries" don't allow them to. If they could they would. Or are you telling me that the Chinese are above extraditing non-Chinese born if it serves their agenda?

They don't need to do that! It's easier for them to just "erase" us if they really need to. Look at the models of compensation of each side and apply deductive reasoning.

One side makes A LOT of money by extraditing and imprisoning us and feeding us etc etc. and this money goes (read embezzled) to their "donors".

The other will have to give up the beauties of life to do the same...just like you or I would have to if we wanted to "grab" someone. I'm NOT grabbing anyone! The best I can do is pay for someone's lunch ... but they must bring at least a good idea or deep thoughts to the table.

It isn't that one is inherently evil and the other not....it's two completely different systems. One built to extract money from its indentured servants vs. one built to spread the wealth so nobody has to starve.

 

[Martin Everson]

Fair point, but then the only reason China is not able to is because the "opposing countries" don't allow them to. If they could they would. Or are you telling me that the Chinese are above extraditing non-Chinese born if it serves their agenda?

Every country looks after their own agenda to some extent. Every country spies also when they can. I am just confused why you single out China when US or even Russia is far worse.

If they want to listen to my phone calls that is fine as you have not explained the personal danger to me of them doing so compared to i.e US.

Anyway lets keep to thread topic please.