"I've long believed that China's currency is due to appreciate notably against the buck," says currency expert Jack Crooks, upon returning from speaking at a Forex seminar in Beijing.
In his World Currency Alert he explains, "Until now, there's been no straight-forward, highly-liquid way to play it. Now there is: the WisdomTree Chinese Yuan Fund (NYSE: CYB)."
"I now think it makes sense to secure some exposure to the Chinese yuan. There's been a major U.S.-China dynamic that's drastically altered the global economic landscape over the last several years. It goes a little something like this:
- China sends goods to the U.S.
- The U.S. sends dollars to China.
- China sends dollars back to U.S.
- The U.S. sends treasuries to China.
"Ultimately, China supplies the globe with liquidity. Behind this capital flow is an artificially undervalued Chinese yuan. This exchange rate situation is why China has become a major supplier of goods and capital to the rest of the world.
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Why do we have a weak dollar?
