Does the devaluation affect our daily lives? Macao's cross-border youth - wu kayayong
Many people feel that the devaluation of the renminbi has nothing to do with themselves, that there are still so many wages per month, that pork cabbage is still the price, and that the house price does not seem to fall。
It looks like that, but if you match the situation below, the devaluation of the renminbi has something to do with you。
Kevin is here today to analyze the impact of the devaluation of the renminbi on the population in the interior:
The cost of living and the costs of school fees increase accordingly for students who are the group with the greatest foreign exchange demand. Families with children studying, especially in the united states, who do not exchange enough foreign currency may spend an extra sum。
The above figure represents the average cost of a year's study abroad, assuming an earlier remittance of $50,000, in the broader context of a dollar to rmb 6. 7, a mere rmb 335,000 would be required at the current exchange rate of rmb 1 = rmb 6. 9. In just a few days, 10,000 yuan more will be needed。
However, school fees cannot be paid, so for families that do not have a dollar reserve, the 10,000 yuan is the hard cost of devaluation. It's a crew
Many friends are believed to have had the experience of cutting hands and many parents are now buying food abroad for the sake of safety. Thanks for the fishing, so we can buy it all over the house。
But with the devaluation of the renminbi, the purchase of foreign goods by sea peddlers is more costly than before. That's not good news for the raccoon。
For example, most parents of older newborns now have milk powder every month. The parents of a newborn child need only 3350 yuan a month for milk powder money of $500 per month, and now 100 yuan more. These are also the hard costs of devaluation of the renminbi. Travel abroad
It is very understandable that, although the prices of goods and services abroad have not changed, the devaluation of the renminbi has reduced the amount of foreign currency available。
As a result, the cost of transportation, hotel accommodation, etc. Has increased relatively abroad, and those who purchase cosmetics, bags and watch outside the country have to pay more。
The press corps is also fortunate that travel agents may also raise offers for travel abroad, especially to the united states。
If you don't happen to be the top three, congratulations on avoiding the most direct influence。
But don't be happy, because the following effects are closely related to each of us: inflation
Numerous studies have shown that “exchange rates and foreign exchange reserves and the availability of currency” such transmission mechanisms are established and effective。
To put it simply, the price of commodities that you buy will rise, and if the renminbi depreciates, the price will rise, and the purchasing power of the renminbi that you hold will decline, which is equivalent to less。
On the face of it, income remained constant, but the cost of living had become higher。
Work
If you are in an exporting enterprise, friends associated with an exporting enterprise who are likely to receive higher wages because of the devaluation of the renminbi in exchange for exports (without taking into account other conditions such as increased tariffs) may not be pleased, because rising wages are generally much slower than inflation。
This, together with the fact that trade tariffs are now increasing themselves, increases costs and the likelihood of rising wages is low。
If you happen to be in the importing company, it's even worse. Because of the devaluation of the renminbi, the cost of corporate imports has increased significantly, especially in industries that rely heavily on raw materials, such as manufacturing, and may reduce wages, layoffs and even collapse。
So at the working level, it will also have a greater impact on us. Stock market
This is part of the impact of the trade war, which, it goes without saying, believes in its performance and that everyone has seen it。
Unstable conditions have led to a sharp rise in risk avoidance and a large outflow of capital from the stock market, which will remain highly volatile in the future
These are the effects of the devaluation of the renminbi on our lives, and no one can do it alone。
A better way to reduce its impact is not to place all the eggs in a basket, and the current mainstream approach is to allocate the renminbi assets in addition to the dollar assets. Thus, however the exchange rate changes, the impact will be relatively small。
Next, kevin will share with his friends what can be done to reduce the devaluation of the renminbi and the impact of the war on trade. Materials: kevinw content editor: kevinw
