This historic move signals a Chinese buying spree

China's decision to let the renminbi float free could have devastating consequences for you and your wealth, says Bengt Saelensminde. Here, he explains why, and what you can do about it.

Monday was another big day in China's grand plan for world domination. After years of suppressing the value of their currency against the dollar, the Chinese authorities announced that they would let the renminbi (RMB) float more freely. And suddenly a decade-long conflict between these two superpowers seems to have been resolved.

But this was no activity of charity; China has a grand plan. And either you get on board and try to profit from it, or you stand to lose wealth and purchasing power over the coming years.

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Bengt graduated from Reading University in 1994 and followed up with a master's degree in business economics.

 

He started stock market investing at the age of 13, and this eventually led to a job in the City of London in 1995. He started on a bond desk at Cantor Fitzgerald and ended up running a desk at stockbroker's Cazenove.

 

Bengt left the City in 2000 to start up his own import and beauty products business which he still runs today.