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Ding Dong

What that tells is the story of the world's currencies.  In that they are being devalued.  Vietnam included.  Their currency is called the Dong. And it was dinged this week when their central bank decided to devalue it in order to remain cost competitive what with so many of their today's exports are priced in USD.


Better to Ding the Dong early than suffer the consequence of the call centers being moved out of Hanoi to Harare or large MNC not producing their electronics in the country because their dong does not ring true anymore.


China started the ball rolling when they realized that the housing bubble was about to burst and the equity assets class was not going anywhere.  So they devalued the Yuan.
Which took the Rupee with it.

You know what happened then.


One by one other countries decide to do the same either through rate cuts or simply printing more currency.  So net net Ding Dong Bell and the Pussy is still in the well.

No basket (of currencies) is going to pull little Kitty out.  Not Janet or Tommy Stout.
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Comments

  1. RajendraAugust 23, 2015 at 7:11 AM

    hilarious title..looks like all the games countries play have a limited life.

    ReplyDelete

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