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Currency War in Asia

Posted on 28 January 2016

Billionaire investor George Soros will not win the ‘war’ he is waging against the Chinese currency, according to the People’s Daily, Beijing’s state-run newspaper. George Soros declared a war on the Chinese currency at the World Economic Forum at Davos, and his influence has already affected fluctuations at global financial markets and subjected the Asian currencies to even greater speculative pressure.
However, the challenge Soros has levied against the renminbi and Hong Kong dollar is “doomed to fail, without any doubt,” the newspaper has declared. In fact, Soros’ attacks against the Asian currencies may in fact help China deepen fiscal and financial cooperation with other countries in the region………………………………………..Full Article: Source


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