Has the Chinese population seen the impact of the trade war with U.S as much as some of the citizens of the U.S in some of its sectors? State Chairman Xi Jinping has used censorship on media outlets to hide of markets have been fluctuating following new releases of sanctions. But I haven heard about Chinese citizens being impacted by the trade tariffs. anyone have updates?
I think the biggest thing affecting the locals would be the currency. The Yuan is dropping pretty quickly so a lot of Chinese people are probably scrambling to protect their wealth. This happened last year around November-December as well, which partially contributed to the growth of Bitcoin. Chinese were sending their money to Bitcoin so they didn't lose in value.
They've also got capital control measures that limit the amount of foreign currency they can purchase each year. I would imagine that not a lot of it is going into the USD anymore and they are looking for other options. This trade war could drive more people to invest in Bitcoin.
But it wouldn't be good for the world's economy, that's for sure. We're already starting to see cracks because of this strong dollar.