“Yuan Slides Past Seven in New Warning Sign for China’s Economy”
May 17, 2023
“The yuan slid past the key level of 7 per dollar for the first time this year in a further sign the recovery of the world’s second-largest economy from its Covid restrictions is grinding to a halt.
The currency weakened past the key threshold in both onshore and offshore trading after data this week showed factory output, retail sales and fixed-asset investment all grew at a slower pace in April than economists forecast…”
https://finance.yahoo.com/news/yuan-weakens-toward-key-psychological-002056792.html
Listen China’s economy is in way worse shape than America. There’s mass flooding due to poor infrastructure, a real estate crisis, mass protest, western companies bailing from China en masse, 65 MILLION people fled the country in 3 months, brick & motar owners are crying due to loss of sales, and much much more happening.
If you’re investing in China you are a fool. Also now there’s rumors that China’s total GDP is 50% of what they say it is. China is a corrupt country built on lies. It’s destined to fail. That’s all there is to it