Let the Global Race to the Bottom Begin | Foreign Policy<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Patrick Chovanec writes: On Aug. 11, the People\u2019s Bank of China announced a decision to devalue China\u2019s currency \u2014 the renminbi, or RMB \u2014 by 1.9 percent, by resetting the daily band within which it\u2019s traded….. The Chinese will try to argue they are just letting the market have its way. This is misleading: For … <\/p>\n
Continue reading “Let the Global Race to the Bottom Begin | Foreign Policy”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41],"tags":[663,1018,2976],"class_list":["post-12145","post","type-post","status-publish","format-standard","hentry","category-china-hk","tag-china","tag-devaluation","tag-rmb"],"yoast_head":"\nLet the Global Race to the Bottom Begin | Foreign Policy - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Let the Global Race to the Bottom Begin | Foreign Policy - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Patrick Chovanec writes: On Aug. 11, the People\u2019s Bank of China announced a decision to devalue China\u2019s currency \u2014 the renminbi, or RMB \u2014 by 1.9 percent, by resetting the daily band within which it\u2019s traded….. 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It will be difficult sustain current GDP growth if this trend continues. The Harper Petersen index of shipping rates for container vessels, the Harpex, remains near its 2010 low, reflecting continued weakness in Asian manufactured goods\u2026","rel":"","context":"In "Market Insights"","block_context":{"text":"Market Insights","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/market-insights\/"},"img":{"alt_text":"China Exports","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-05-26-china-exports.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-05-26-china-exports.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-05-26-china-exports.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":9898,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/05\/26\/chinas-export-dilemna\/","url_meta":{"origin":12145,"position":1},"title":"China’s export dilemna","author":"ColinTwiggs","date":"May 26, 2014","format":false,"excerpt":"Growth in value of exports from China has slowed to single figures since 2012. It will be difficult sustain current GDP growth if this trend continues. The Harper Petersen index of shipping rates for container vessels, the Harpex, remains near its 2010 low, reflecting continued weakness in Asian manufactured goods\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"China Exports","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-05-26-china-exports.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-05-26-china-exports.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-05-26-china-exports.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":10201,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/01\/economonitor-china-not-piketty-explains-confused-signals-in-u-s-asset-prices\/","url_meta":{"origin":12145,"position":2},"title":"EconoMonitor \u00bb China, Not Piketty, Explains \u2018Confused Signals\u2019 in U.S. Asset Prices","author":"ColinTwiggs","date":"July 1, 2014","format":false,"excerpt":"From Benn Steil & Dinah Walker: As for bond prices, China\u2019s central bank holds the key.After more than three years of steady appreciation, the RMB has declined over 3% this year \u2013 erasing the past year\u2019s rise. Driven by the Chinese government\u2019s desire to re-juice failing economic growth, RMB depreciation\u2026","rel":"","context":"In "China & HK"","block_context":{"text":"China & HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12558,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/11\/23\/bank-of-america-the-great-divorce-between-the-worlds-two-largest-economies-will-drive-currency-and-rates-markets-in-2016-bloomberg-business\/","url_meta":{"origin":12145,"position":3},"title":"Bank of America: The ‘Great Divorce’ Between the World’s Two Largest Economies","author":"ColinTwiggs","date":"November 23, 2015","format":false,"excerpt":"Luke Kawa at Bloomberg quotes David Woo, head of global rates and currencies research at Bank of America Merrill Lynch: \"On the eve of the December FOMC meeting, we think the question is not whether the U.S. economy can live with higher interest rates and a higher U.S. dollar. 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This is a positive development of international policy coordination since the recent G20\u2026","rel":"","context":"In "Stock Markets"","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Macrobusiness","src":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/03\/wergtqe-78x78.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":18853,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/10\/china-exports-fall-despite-weaker-yuan\/","url_meta":{"origin":12145,"position":5},"title":"China: Exports fall despite weaker Yuan","author":"Colin Twiggs","date":"September 10, 2019","format":false,"excerpt":"Reuters says that export orders are falling and the contraction is expected to worsen in coming months: Beijing is widely expected to announce more support measures in coming weeks to avert the risk of a sharper economic slowdown as the United States ratchets up trade pressure...... On Friday, the central\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/12145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=12145"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/12145\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=12145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=12145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=12145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}