Was the weak GDT auction a sign of China's weakening purchasing power?

Sun, 11 Aug 2019

By Jenny Ruth Aug. 12 (BusinessDesk) - Weaker-than-expected prices in last week's GlobalDairyTrade auction could be an early sign that Chinese buyers are feeling their weaker purchasing power as the yuan devalues, says Mark Lister, head of wealth research at Craigs Investment Partners. The main GDT index fell 2.5 percent last week while the yuan fell to more than seven to the US dollar last week for the first time in 11 years and President Donald Trump's administration then accused China of being a currency manipulator. The moves were...

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