Answers >> Panjin >> Money & Banking
  • glare
    Points:12
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    Is the ecomony going to collapse? If it does, what will happen to my money in my

    I know basically nothing about finance and macroeconomics, but the drops and the currency devaluation make me nervous.
    9 years agoin Money & Banking-All
    Answers(5) Comments(0)
  • atiya
    Points:30
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    But the issue is that the CCP has maintained legitimacy by saying Look at the Economic Growth...should Economic growth return to a world normal 1 or 2% the common people will be upset.
    9 years ago
  • niidarti
    Points:30
    (0)
    (0)

    No

    the Chinese economy will not collapse.

    some pretty goofy people doing some pretty goofy stuff right now (CCP, uninformed investors, Saudi's, oil in general) for some, it is panic and ignorance, for some rich it is a fun game to gamble with.

    Your money will be fine in a Chinese bank (as long as it is not in Ho Li Fuk's local corner investment bank.)

    Reforms and globalization will take years and years, but it will be good for all, in the end. (is there an end?- no) Stabilize before year's end.

    I do think the RMB has to devalue some more, even if it pisses Trump off.

    9 years ago
  • siobhan
    Points:15
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    Currency is kind of pegged...I can't see it going below 6 to the dollar, without the WTO throwing China out...
    9 years ago
  • jonas
    Points:30
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    Good question. I don't know why you got a couple of down votes, I assume it's those stupid little wumao toads again.

    I don't know the answer to your question but I guess a lot of people here are wondering the same thing. I probably know even less than you about this but from what I've read, the economy is in no danger of collapsing in the near future, it's still growing in fact, just at a slower rate.

    I would still send my money home though, who knows if the exchange rate will drop tomorrow.

    9 years ago
  • annafel
    Points:30
    (0)
    (0)
    But the issue is that the CCP has maintained legitimacy by saying Look at the Economic Growth...should Economic growth return to a world normal 1 or 2% the common people will be upset.
    9 years ago

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