China’s currency slide, mounting debt presents challenges

(08/08/19)

 to seafood industry

This week, for the first time in over a decade, China’s currency fell below the psychologically important exchange rate of CNY 7.00 (USD 1.00, EUR 0.89) per U.S. dollar.

The news-making milestone will add to the pessimism in many Chinese boardrooms this summer over the long-term prospects for the country’s economy as the dispute between China and its largest customer – the United States – continues. 

The China-U.S. trade war intensified over the past week, with U.S. President Donald Trump placing a 10 percent tariff on the remaining USD 300 billion (EUR 270 billion) of Chinese.............................................................


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