AS a result of its economic conflict with the U.S. The Peoples Republic is becoming more active in the euro zone; the world’s second largest economy. This has the effect of strengthening the euro; tough on those dependent upon a UK-based income such as a pension. China has bought Greece’s debts; an EU nation that is now forging strong ties with the People’s Republic.
The euro gained a highly significant and symbolic 8.1% against the U.S. dollar. The EU currency is now seen as the only alternative to the once almighty buck: The vulnerability of the Portuguese, Irish, Spanish and Greek currencies makes speculative entry into the euro market inexpensive and attractive. Like Spain’s housing market, it is a good time to buy.
In the last two weeks, the U.S. Congress has approved a bill that will impose economic sanctions against countries that ‘orchestrate manipulations with national currencies.’ In layman’s language the economy of the People’s Republic of China is in the American crosshairs: Rather like shooting one’s banker because one owes him money.
By Paul Polke
Read more: http://ewnbusiness.com/201/fancy-a-chinese