economy to the faster growing tech economies. >> certainly, haney, the yuan is tied to every part of the economy. it's dropped as much in the last six weeks as it did in august when we were talking about this crisis of confidence. on one hand, it makes exports cheaper rsh on the other hand, it moves cash from the country. how does that play out, and is it helping china as much as people here in the u.s. say it's hurting our exports? >> well, i can't comment directly, and i'm not an economist, but i do believe that the devaluation of the rnb will hurt the chinese economy longer term and will force the slowdown even further. right now we're talking about 5.5%, 6.5% growth. it may go lower than that. i mean, the positive side of people moving money out of the country is obviously you're seeing asset prices in places like the u.s., western u.s., and even parts of europe going up as chinese consumers buy hard assets. i think they've got to figure out a way to keep the confidence in the rnb intact in china. >> certainly not the last of the conversations we're going to be having about the yuan.
Fetching more results