China`s Currency Is Likely To Appreciate in 2014

I think China is very likely to see an appreciation of their currency in 2014. That is going to a good thing for chinese wage earners, for chinese consumers who are going to make a better deal on the things they need to buy. Its not going to play out so well over here because as the chinese currency becomes more valuable, their goods become more expensive and americans already have a hard time buying stuff. Look at the Christmas sales. they have been the worst since 2009.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.