I was talking to a Chinese work colleagues about the Yuan devaluation. He said things in China are far worse than what is reported. The gov has run out of money. Infrastructure work has virtually come to an end. Typical businesses are down 80% on revenue compared to 1-2 years ago. Sounds like 30-40% devaluation is required. - Caution is warranted.
I was talking to a Chinese work colleagues about the Yuan...
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