US designates China as a currency manipulator
Source: The Guardian and agencies
The US government has labeled China a currency manipulator, a move that could pave the way for new sanctions on China.
The US has determined that China is manipulating its currency, and will engage with the International Monetary Fund to eliminate unfair competition from Beijing, US Treasury Secretary Steven Mnuchin said in a statement on Monday.
The decision came hours after Donald Trump accused China of unfairly devaluing its currency, and it marks a reversal for the Treasury department.
The US has not put China on the currency blacklist since 1994.
-snip-
Dominic Rushe agencies
@dominicru
Mon 5 Aug 2019 23.26 BST Last modified on Tue 6 Aug 2019 00.26 BST
Read more: https://www.theguardian.com/us-news/2019/aug/05/us-designates-china-as-currency-manipulator
bucolic_frolic
(43,161 posts)which means just about everything
yaesu
(8,020 posts)LiberalFighter
(50,928 posts)sinkingfeeling
(51,457 posts)to devalue the dollar?
MattInMN
(39 posts)...China dumps its $1Trillion of US T-bills sending us into recession.
Wellstone ruled
(34,661 posts)Maybe more,that was a number thrown out when the Genius Squad went to China.
Igel
(35,309 posts)Wellstone ruled
(34,661 posts)into their Speal . Not surprised. Still the One Plus will raise holy hell on our economy. Thanks for the chart,just bookmarked that site.
Will be tuning in Bloomberg overnight in a couple hours. Interesting how Eourpe does news and financials.
OnlinePoker
(5,719 posts)The rich are still using their refuge of choice to hide their money from the government, an extra $18 billion in the last year.
Here we go!
Ford_Prefect
(7,897 posts)machoneman
(4,007 posts)Cute move. Won't work at all.