"I have to take depreciation of the RMB and investment into account," Ma said, "If one has hundreds of million yuan, one should always bear in mind that such amounts of money do not belong to oneself but to the whole society.
I doubt the Chinese authorities are about to engineer a big depreciation in the renminbi when they are also trying to develop its role as a reserve currency, and Chinese companies have borrowed so much in dollars.
If you form a rapport with a retailer, the store will look after you over the years, even helping you to upgrade or trade-in watches while reducing the sting of depreciation.
The depreciation stems from the radical steps taken by the European Central Bank to loosen monetary policy since June, including this month's cuts in interest rates and the announcement it would start buying private sector assets.
