Atlantic Council Chairman Jon M. Huntsman, Jr. joins CNN’s Fareed Zakaria GPS to discuss the global market reaction to China’s multiple currency devaluations:
“China is no longer an average player in the global economy. They’re the second largest economy in the world. And when you have the devaluation of 2 percent right off the bat automatically – you’re going to have a higher cost burden on the exports from the United States to Asia, and to one of our largest export markets, to say nothing of the impact it’s going to have on the region. So when you look at the immediate import that it had on currencies – you get a sense as to why people are very, very frustrated with China.”