Jim Rogers of Rogers Holdings for his take on the Yuan devaluation and the global markets.
Jim Rogers: First of all, this is not devaluation. I am not sure why people outside China are saying that for many years. The American government, IMF, me and others have said please let your market determine what happens to the currency. So finally the Chinese said okay and the Yuan went down 2% one day and 1% another day. But that is not devaluation.
The Japanese Yen is down 50%……
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