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1/Why #bitcoin matters now.
Trump wants to look good for 2020. No surprise there. Strong economic numbers--especially GDP--are crucial.
So: trade war! Force a huge economy (China) to buy more of our products. Cranks up GDP. Yay us, right?!
Except China's fighting back.
Trump wants to look good for 2020. No surprise there. Strong economic numbers--especially GDP--are crucial.
So: trade war! Force a huge economy (China) to buy more of our products. Cranks up GDP. Yay us, right?!
Except China's fighting back.
2/China is devaluing their currency. Sounds bad for them, ya? So counter-intuitive.
A weaker Yuan makes it harder for China to import goods (they can't afford to buy other countries' stuff).
But also makes it cheaper for others to buy Chinese goods (our bucks go further).
A weaker Yuan makes it harder for China to import goods (they can't afford to buy other countries' stuff).
But also makes it cheaper for others to buy Chinese goods (our bucks go further).
3/But China is primarily an export economy. So they're happy to juice the trade flow out and disadvantage the flow in.
The $USD is already expensive relative to everyone else's currency. So what can Trump do? He *needs* to increase our exports... but we're expensive to buy from.
The $USD is already expensive relative to everyone else's currency. So what can Trump do? He *needs* to increase our exports... but we're expensive to buy from.
