It was the 27th of May, 2019, when Guo Shuqing, head of China’s banking and insurance regulator, said in a speech that speculators “shorting the yuan will inevitably suffer from a huge loss.”

On the night of the 4th of August, the People’s Bank Of China gave the green light to the third directed devaluation in the past five years. The onshore yuan finished the domestic session at 7.03 per dollar, its weakest level since March 2008, according to Reuters.

I find it amusing to read some analysts stating that the Chinese government’s stealth yuan devaluation has offset the impact of tariffs or will improve the economy.

Continue reading China. Why we should be even more worried after the devaluation →