China recently elected to devalue their currency causing volatility in most global markets. One benefit of this event was that it removed Greece from the headlines. Although our belief was that too much attention was being placed on Greece and its implications for the European Union, it was welcome to see it move to a page two story.
The three percent devaluation of the Chinese Renminbi (RMB) represents a material event that could have lasting ramifications. With the economic slowdown impacting China, the media quickly jumped to the conclusion that this devaluation was China’s way of joining