China’s yuan tumbled on Tuesday to its lowest level in nearly 15 years on Tuesday as investors fled Chinese assets amid fears about Xi Jinping’s dramatic move to tighten his grip on power in a major reshuffle of Communist Party leaders On the tightly controlled domestic market, the yuan dropped sharply, hitting the weakest level since late 2007. It was last down 0.6% at around 7.3 per dollar. The currency has lost 15% against the US dollar this year.
In addition to securing an unprecedented third term as party chief, Xi packed key positions with staunch loyalists. A number of senior officials who have backed market reforms and opening up the economy were missing from the new top team, stirring concerns about the future direction of the country and its relations with the United States.
This is a profound moment, the 2nd renaissance borne by the internet. Great social upheaval, fundamental economic change & a re-writing of how war is executed. It is the 3rd millennium. Equity, social capitalism & global collaboration will be had if we don't screw it up EQknows
Mind your own business
Things do not look good in the Far East
الكذب هو الأوكسجين الذي تتنفسون 👇
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Herkunft: WSJ - 🏆 98. / 63 Weiterlesen »