As the trade war between China and the US escalates, China’s currency dropped to an almost historic low. China was accused of manipulating its currency. It also halted purchases of U.S. farm products. The moves follow Trump’s tweets from last week that threatened tariffs on about $300 billion worth of Chinese goods, which would extend tariffs across almost all imports from China. No country has been named a manipulator since the Clinton administration did so for China in 1994.
A weaker yuan makes China’s exports to the rest of the world cheaper and therefore more competitive against those of the U.S. That could encourage rising purchases of Chinese goods in the U.S. and elsewhere and further widen a growing trade deficit with China.
The yuan traded above 7 per U.S. dollar, making Chinese products cheaper. For ordinary people, it is good news if they were going to buy Chinese products. They can spend less money on purchasing Chinese products. Besides, they can also save a lot of money if they planned on going on a vacation to China. China is undoubtedly a good place for traveling. You have the opportunity to enjoy the beautiful scenery and delicious food in different regions of China. Apart from China, there are many other beautiful places in the world that deserves visiting. Are you ready to travel to other countries?
Prepare yourself for the trip. Don’t forget to take a VPN with you. You should install a VPN on your device to bypass geo-blocks. Otherwise, you may not be able to share your trip with your friends on social media blocked in the country you visit or watch your favorite shows. A VPN also helps you stay safe on the Internet.