In a van, down by the river... | I think the result could be that their move would normally lead to a commodity price devaluation, in the absence of other factors. In my convoluted way of saying things, you could either say they just made their currency worth less, so the price they pay is higher in their terms if our prices don't fall, or in order for their prices paid to remain stable, our price will need to fall because their currency is worth less. However, China is by far and away the place where the world dumps its protein, so their demand ultimately sets the price, which is why I think the former is more likely than the latter (particularly for stuff like metals or oil where weather isn't a factor).
I used to be an academic, and part of our training involves finding more difficult ways of explaining simple things. Those who achieve true greatness in obfuscation are granted tenure...
Edited by RobCogdill 5/4/2016 10:19
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Our friend Yuan...
