U.S. and China currency battle
Hi guys,
President Obama and the Chinese government are at odds over the value of the Chinese currency. Obama wants the Chinese to revalue the yuan so as to get a balance of trade between them. However The Chinese seem not to budge to Obama's demand. Come April the 15th the drama will unfold, if it is not settled by then. U.S. president is going to label the Chinese as currency manipulators and hence a trade war leading to devastating effects on the world markets. The markets will tumble and we will be back to 2008.
Beware and get ready to offload if the war of words hots up.
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