Chinese Renminbi undergoes rapid devaluation

Today, 12/5/2016, over the course of approximately 3 hours, from EST 11:40 a.m. to 2:50 p.m., the Chinese Renminbi (RMB) underwent a rapid devaluation rising from ¥6.88 to ¥7.48 against the US dollar, a loss of just under 8%. This represents a 9-year low for the Chinese yuan, and a precipitous fall amidst an already downward trend in value after a peak in value at just over ¥6.0 in 2014. Such a marked loss could spell trouble for investors.

A marked fluctuation of this degree could lead to trouble in a market that has already been rocked this year with instability due to populist-driven events, namely the vote for the Brexit and the US presidential election. This would not be the first time that the Chinese government has devalued the Renminbi unannounced, as it did on August 11, 2015, but, given the events of the last six months, one must question the rationale for the timing of such a devaluation if it was indeed planned. In the past, the Chinese government has been accused by the West of purposefully weakening its currency. Such actions are seen as an effort to maintain a competitive edge in the global marketplace as Chinese wages continue to rise.

Note: XE has now confirmed that this is not an error.

What kinds of sources do foreign languages put at your fingertips? – An untold secret of language learning

This seems like such a simple question, but upon closer inspection the answer is indeed more nuanced than one first realizes. Of course there are the more obvious answers, such as print and visual media, (i.e. novels, newspapers, television, and film, etc.) on the other hand one also gains access to the internet, which grants access to the opinions of native speakers, as well as direct contact with them and their interests, such as via forums/BBS. What you also gain access to though, is the ways in which other nation's language and peoples view the world. For example, different cultures have different perspectives on the use of food. A number of cultures view food as medicine, the Chinese are one example of this, but the ancient Greeks are yet another. Considering various perspectives helps one to better the fundamental truth of a subject. Learning a new language, thus possesses the potential to change your very perspective of the world. Indeed so simple an activity affords you access to opportunities and experiences that you would not otherwise have been able to access on your own. In this way the scope of your being is extended beyond its inherent limitations. This is why I have chosen to focus on something so simple as food culture thus far with this blog. Food is something that we all enjoy on a daily basis. It is my hope that but one person comes to understand that there is a different perspective that they can use to approach food, then maybe they will realize that there is greater value to be found in language learning than they may have previously thought.

It is only through language learning that one gains true access to the wealth of information that speakers of a particular language produce everyday. The internet has given us access to newfound sources of information. Now we must come to understand how to fully make use of these sources. Language learning can be that medium. My hope is that it will prove to be an enjoyable one that opens your eyes, helping you to lead a fuller life.