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Communication Expert: THIS is How to Attract Success into Your Life | Vanessa Van Edwards
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Devaluation of Currency and Global Trade Dynamics
In 1994, China devalued their currency in response to NAFTA, aiming to be the leader in global trade. By devaluing their currency, China made exports more competitive. This action resulted in making Chinese consumers poorer as they needed more of their currency to buy a dollar. To stabilize their currency value, China invested in US Treasuries, which benefited the US due to their fiscal conservatism.
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