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Will China bring down the western economies?

24

Comments

  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    Thought that recent devaluation was to support falling exports.

    It was a funny devaluation. Each morning the PBoC sets the FX rate based on the previous night +/- a little bit. All that happened is the bit that was accepted was in a larger range than normal.

    I think this is another step towards the 'capitalismisation' of the Chinese economy.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    the clear answer is NO, china will not bring down our prosperity
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    imin83 wrote: »
    From my POV, China is only good at producing low-priced stuffs.. not sure though those will be able to bring down any civilization

    China has been acquiring technology for the past 20 years. In time they won't need the Germans or the Americans anymore.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    China has been acquiring technology for the past 20 years. In time they won't need the Germans or the Americans anymore.

    one wonders why countries with technology, trade with each other
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Generali wrote: »
    It could but it probably won't.

    All that has happened is that the Chinese are slowly moving towards a system of floating exchange rates just like.....every other major economy in the world!

    As the ERM debacle taught the UK and the Euro SNAFU is teaching the Greeks and others, fixed exchange rates are, in general, a very poor idea.

    A. Storm. In. A. Teacup.


    Yes, nothing to see here, move along...everything in China is ticking along just fine, it`s like UK property, always goes up and you can`t lose....:rotfl:
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Crashy_Time wrote: »
    Yes, nothing to see here, move along...everything in China is ticking along just fine, it`s like UK property, always goes up and you can`t lose....:rotfl:

    Another insightful piece from one of the forum's top minds.

    What is your prediction for China?
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 21 August 2015 at 3:26AM
    Generali wrote: »
    Another insightful piece from one of the forum's top minds.

    What is your prediction for China?

    The SSE composite index looks like a real roller coaster ride, it is down about 30% from 2 months ago, still up over 60% from a year ago and 60% down from its 2007 peak (which itself looked like a bit of a bubble). I just don't know what to make of it, it looks bloody scary to me, I'd hate to have to predict what it will do next, never mind have all my wealth stored in that index.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • ging84
    ging84 Posts: 912 Forumite
    Part of the Furniture Combo Breaker
    Perhaps what china needs is the distraction of a war in korea which is 1 step closer today
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    ging84 wrote: »
    Perhaps what china needs is the distraction of a war in korea which is 1 step closer today

    Not really. This shelling is the first for........10.months.
  • theEnd
    theEnd Posts: 851 Forumite
    I still feel the western world didn't really sort out any of the issues of the last downturn. Patched it up and kicked the can down the road.

    Anything major could have the ability to trigger the crash that didn't really happen last time.
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