On The Cusp Of A Historic Yuan Devaluation

A bank teller counts the stack of Chinese yuan and US dollars at a bank in Shanghai, 22 July 2005. STR/AFP/Getty Images

If the Chinese yuan devalues against the U.S. dollar, “officially” or otherwise, it could dramatically alter the economic status quo of the past two-plus decades and it will be for the worse.

The Mainstream Media, labels the ongoing plunge of a plethora of non-Western currencies an “Emerging Market” crisis.  However, such “emerging markets” include some of the world’s largest – particularly, the “BRICS” nations that 15 years ago, Goldman Sachs expected to rule the 21^st century; i.e., Brazil, Russia, India, China, and South Africa.