I travel to China pretty regularly. A few years back and at end of trip had about 1000 yuan (perhaps $140) left over that couldn’t spend. I brought it home
In couple years sitting in my sock drawer,it has appreciated 20% vs Dollar. China shifted from pure dollar peg to pegging the Yuan to a basket of currencies.
IMHO the Dollar will continue to depreciate. I might as well continue to hold on to the RMB cash. It will be interesting if the Chinese allow true floating currency. I doubt it. RMB is way undervalued, and Chinese govt knows that it will seriously crimp their export business.
My bet is still on gold (via ETFs and a mix of gold mining companies). Hedging against inflation also with other commodities.
By the way, have any of you seen the traffic jams in Beijing or Shanghai recently? Unheard of just a few years ago. China will also surpass US in car sales this year. There is a true car culture emerging in China. Oil and Oil services is one of my key investments that banks on this trend. BTW, the dollar is highly negatively correlated to oil prices.
