How China's Devalued Currency Affects U.S. Consumers
China devalued its yuan currency for a second day running on Wednesday. It could have an effect on American consumers and investors. Here's how.
Cheaper imports, more expensive exports:
If you like your goods made in China, a weakened yuan is your friend. When the yuan falls in value, goods imported to the U.S. from China become cheaper. And China makes a lot of things, from cars and computers to clothing and furniture. Conversely, American businesses will find it more expensive to sell their goods to China.