Can anyone tell me what is the political gain letting this happen now? Stock market crashing?
To weaken the yuan in order to make exports more affordable for overseas markets?
A sitting president is responsible, leaders are responsible, period. However, the Yuan and USD are in a competitive replacement war. Together with the Petro dollars, it would seem that the Chicom’s have had enough of the prosperity for everyday Chinese thus they are going to crash their markets and kill investors just as the democrats celebrated in 2000 here in the US. When people will not invest, they will believe their overlords/masters on the evils of capitalism. Obama and the FED have been manipulating the markets and metals, but this may make metals worth more quickly on a world-wide scale; something the west and Obama/Fed have little investment holdings. The Chinese are well positioned for a traditional bounce in metals, gold, etc. should their market and world markets crash - gold might triple.
I don’t think they have any idea on what they are doing... and I am not sure i believe they will actually do it either...
The Chinese have been fudging their numbers for years. Their chickens are coming home to roost. And they are not going down alone.
Consider this: the Chinese are about one generation removed from everyone being dirt poor. They can survive a huge crash.
America and the west are several generations from being dirt poor. And we (as a country) rely an awful lot on the government. A true crash would ruin us as a country.
They can recover because they have industry. We shipped it to them.