Though we’ve heard almost nothing about this from the mainstream media, the news that China plans to shift its economic focus from exports to its domestic market should cause some concern.Â As Tom Mullen observes in his blog on BreakTheMatrix.com, “This is the beginning of the end for the U.S. dollar and what is left of the U.S. economy.”
In their bid to stabilize their own economy, the Chinese may look to boost the value of the yuan instead of pegging it to the U.S. dollar.Â Mullen says,
The Yuan will quickly float to its natural high value, allowing the Chinese people to purchase themselves those products that they used to export to the U.S. This will also mean that U.S. consumers will have to either do without those products, or pay the much higher prices of their counterparts that are made in the U.S. The higher prices of U.S. made products may go even higher due to the decreased overall supply, depending upon how that decreased supply balances against decreased U.S. demand (purchasing power).
However it plays out, it will mean a huge shift in standard of living, with the Chinese enjoying a higher standard, while the U.S. suffers probably the biggest decrease in standard of living in its history.
And don’t forget that Chinese banks own a huge amount of U.S. debt.Â Tough times are ahead.Â Be prepared.
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