好运加满啦
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04041389164 Peter Schiff, an American investor and CEO and Chief Economist of Euro Pacific Capital, wrote last night (April 20th, Beijing time): "Trump says China needs American consumers. The U.S. has 340 million consumers, with an average annual income of $44,000 per person. This is much higher than the income of most consumers outside the U.S., but it is entirely a function of exchange rates.
China has 1.4 billion consumers, with an average annual income of $13,000. But if the RMB to USD exchange rate doubles, these 1.4 billion people would instantly earn $26,000 more per year. Although this is still lower than the per capita income of Americans, due to China's population being 1 billion more than the U.S., the additional income of $13,000 per year for Chinese people amounts to 20% of the total income of the U.S. If the income of 1.4 billion Chinese consumers were to double, they would easily be able to afford products that Americans cannot currently afford.
Similarly, there are 450 million European consumers in the EU, with an average annual income of $35,000. If the euro and seven other EU currencies appreciated by 50% against the dollar, these 450 million people would have an additional income of $17,500 per year, which is more than 50% of the total purchasing power of 340 million Americans.
The key point is that the purchasing power of American consumers purely depends on exchange rates. If countries around the world abandon the dollar as a reserve currency, sell off dollar debts, and turn to buying other sovereign debts or gold, the purchasing power lost by Americans would shift to other regions of the world. Goodbye, American consumers; hello, non-American consumers."
[Witty] Supplementary information: Among Wall Street bankers and investors, Peter Schiff's views are in the minority. After accurately predicting the 2008 financial crisis, Peter Schiff, President of Euro Pacific Capital, became a star public figure. He frequently appears on financial debate programs on CNBC, FOX, CNN, and regularly comments in renowned media such as The Wall Street Journal, Financial Times, and The New York Times.
China has 1.4 billion consumers, with an average annual income of $13,000. But if the RMB to USD exchange rate doubles, these 1.4 billion people would instantly earn $26,000 more per year. Although this is still lower than the per capita income of Americans, due to China's population being 1 billion more than the U.S., the additional income of $13,000 per year for Chinese people amounts to 20% of the total income of the U.S. If the income of 1.4 billion Chinese consumers were to double, they would easily be able to afford products that Americans cannot currently afford.
Similarly, there are 450 million European consumers in the EU, with an average annual income of $35,000. If the euro and seven other EU currencies appreciated by 50% against the dollar, these 450 million people would have an additional income of $17,500 per year, which is more than 50% of the total purchasing power of 340 million Americans.
The key point is that the purchasing power of American consumers purely depends on exchange rates. If countries around the world abandon the dollar as a reserve currency, sell off dollar debts, and turn to buying other sovereign debts or gold, the purchasing power lost by Americans would shift to other regions of the world. Goodbye, American consumers; hello, non-American consumers."
[Witty] Supplementary information: Among Wall Street bankers and investors, Peter Schiff's views are in the minority. After accurately predicting the 2008 financial crisis, Peter Schiff, President of Euro Pacific Capital, became a star public figure. He frequently appears on financial debate programs on CNBC, FOX, CNN, and regularly comments in renowned media such as The Wall Street Journal, Financial Times, and The New York Times.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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