The devaluation of the Chinese Government against its currency will only have an impact on Asean countries exporting commodities such as Indonesia, Malaysia and Thailand in China reduced import demand and depresses commodity prices, said Bank of America Merrill Lynch.
Weak exchange rates will also progressively reduce China's tourism sector as well as expenditures related to the value of the sector despite its tourism sector has disrupted last year due to the accident flight.
Economist Chua Hak Bin Daud says visit value dropped sharply in Singapore (-23%) and Malaysia (-10%). As of August 2011, the Chinese currency has dropped 2.88% and the market still continues to predict a downturn will occur during the next year.
Although the devaluation of the yuan is reminiscent of the back in devalution the past year 1994, Chua said the mistake happened is too value devaluation although this will increase the competitiveness of its exports in Asia and other third countries.
"The changes made to the Central Bank of China (PBoC) makes us more confident that the European Central Bank (ECB) and the Central Bank of Japan (of the BoJ) will be more open in the future," said Wong Chee Seng and tan Swee Wei, Am Markets and strategic analyst with FX.
According to their sign indicated a decrease of the ringgit, peso and dollar Taiwan then that suggests major changes efficiently and estimated each of these currencies will strengthen against the u.s. dollar when there is a change of the exchange rate of yuan.
"For every one percentage point of RMB that moves, the ringgit will also move 43 basis points and to adjust the level of 0.42 peso basis points." This happens because of the high trade cooperation with China. "
Taiwan export cooperation has a value of 64% followed the Philippines Malaysia and 62% 60%. Exchange rate index in each country, an estimated 23% for Malaysia than Philippine 19%.https://www.mql5.com/en/signals/120434
