Importers Desperate To Sign Deals In Dollars, Because They Know It's Going Lower

dollar washington

The NYT takes a visit to the Guangzhou trade show, a bustling event where Chinese manufacturers meet with buyers all over the world. Not surprisingly the future of the US dollar looms large. (via Steve Hsu)

Kimmo Tarkkonen, the chairman of SRS Fenno-El, a distributor of lamps and space heaters based on the outskirts of Helsinki, said that he was signing all his contracts with Chinese suppliers in dollars after concluding that the dollar would continue to fall against the euro, making his purchases even cheaper.

“We’d rather take the risk,” he said, adding that the dollar “is declining all the time, so the risk is minimal.”

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