### Comment:
I think the devaluation of the Yuan comes with the tariffs and the PBOC isn’t deliberately devaluing the Yuan and has in fact kept it over estimates. I guess our views differ on the side of China. I personally think they are inching towards the verge of collapse and they are nowhere near as strong as they appear to be. We’ll see in time, you might be right.

### REPLY:
I'm with you. The devaluation is just a result of the trade war and slowdown; I don't believe it's intentional. 
  
 China's market is already in bear market; they're slowing down at record levels. They have HK protests and trade war that both have heavy financial consequences.

### END.