And now, when weighed down by the pains and aches of old age, when the head inclines to the feet, when the beginning and ending of human existence meet, and helpless infancy and painful old age combine to- gether--at this time, this most needful time, the time for the exercise of that tenderness and affection which children only can exercise towards ...
- Currency war to escalate. If China were to partially back its yuan with gold it would require a gold price of $64,000 per ounce, 50 times gold bullionâs price today, according to a recent article from respected Bloomberg Intelligence. It seems like an outlandish forecast.
The Chinese government has announced that it will gradually increase the flexibility of the exchange rate. As a result of the rapid internationalization of the renminbi, it became the world's 8th most traded currency in 2013, and 5th in 2015.hen China's economy gradually opened in the 1980s, the RMB was devalued in order to improve the competitiveness of Chinese exports. Thus, the official USD to RMB exchange rate declined from 1.50 yuan in 1980 to 8.62 yuan by 1994 (lowest ever on the record).