How does the fall of China’s currency impact BC?
BC relies heavily on coal and lumber exports but an economist tells us that could be threatened because of the devaluation of China’s currency.
Lumber sales can be offset by more purchasing from the US right now but China is one of the biggest consumer of BC’s metallurgical coal. The commodity is already struggling on top of this.
He says the Chinese economy has been under performing, and fall in the Yuan is being done to help exports there.