The Chinese Yuan has been a topic of multiple debates in the past few months. After months of deliberate devaluation, things are still looking very bleak for the future. In fact, it appears the pessimism surrounding this national currency is only growing worse every month. Such an uncertain future can push even more people to Bitcoin and cryptocurrency next year.
Overseas assets are becoming fan favorites rather quickly right now. The US Dollar is one of the assets consumers and enterprises look to get their hands on in large quantities right now. Foreign currency savings are up by quite a margin, although it may not be the best course of action.
Adding more fuel to the fire is the asset famine plaguing the Chinese market right now. Property prices, equities, and borrowing money have all come under scrutiny, leading to less attractive investment opportunities. Additionally, overseas exporter revenue converted back into Yuan is on the decline by nearly 40% as well.