When it comes to YOUR MONEY, we want to take it a step further. That's why Mark Grywacheski appears on Good Morning Quad Cities every Monday to give us his analysis of the latest business, economic, and financial news.
On Monday, August 12th, Mark helped us dig deeper into the trade war between the United States and China. After President Donald Trump announced another tariff on more Chinese goods, China retaliated by devaluing its currency:
"International treaties prohibit any nation from unfairly manipulating the value of its currency," he explained. "Its value must be based on the global forces of supply and demand, but when China devalues its currency, it artificially lowers its value relative to other global currencies. This suddenly makes China’s goods cheaper to buy in the global marketplace and unfairly pulls global sales away from American manufacturers."
The move came as a surprise to the markets and it showed - on Monday, August 5th, there was a 767-point decline in the Dow Jones Industrial Average. There's also an industry that Mark said is going to feel the impact of this more than others. Click the video above to hear our entire conversation .