“As a Chinese export manufactured in India for our consumption here in the West the value of the Karma Kagyu sect’s assets as such, the willingness of China’s wealthy to underwrite its activities here in America, is much diminished.”
So says Allen.
“The sect’s Chinese stakeholders in Taiwan, Hong Kong, and so on, are much poorer than they hitherto were before China’s leaders recently decided to let the value of their currency be determined by the global market.”
“Given that for said Chinese stakeholders this is an outcome they never believed China’s government would allow to happen this can’t but come as a shock to these people as such.”
“In other words, the Karma Kagyu sect could well lose its monastic seat in Woodstock, New York, KTD, if China’s rulers continue to allow the global market to determine the value of its currency.”