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It’s All-Out War As Steve Mnuchin’s Treasury Designates China A Currency Manipulator

This is becoming a "sum of all fears" scenario.

This is becoming a "sum of all fears" scenario.
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14 comments on “It’s All-Out War As Steve Mnuchin’s Treasury Designates China A Currency Manipulator

  1. It was just a matter of time after Tariff-man ramped up the tariff threats last week. The Chinese psyche will not accept any ‘shaming’ or humiliation from Trump and they will just dig in their heels and be more resolute not to give in to his demands.

    If Trump hadn’t inserted himself in Lighthizer’s NAFTA negotiations, the USMCA would have/could have been signed while the GOP had control of both houses of Congress. He’s making Lighthizer’s and Mnuchin’s job in getting a win-win deal with the PRC very difficult; he’s not helping.

  2. Spunky McGregor

    I dislike Trump intensely, but this has been a long time coming. The Chinese are not our friends. During the cold war, would the United States have allowed the USSR to run a mercantile scheme where they got rich by draining US wealth? No, we would not. I can only hope that the democratic field sees this for what it is – Cold War II, electric boogaloo.

    • I’m going to assume you’ve read ‘Liz Warren’s trade plan. If you think Trump is tough, read this: https://heisenbergreport.com/2019/07/29/read-elizabeth-warrens-new-our-terms-trade-policy/

      now that’s a tough trade policy. in fact, it’s far-fetched in the extreme.

      obviously, the USSR comparison is a false equivalence, and this idea that “the Chinese are not our friends” is overblown. besides, who exactly are our “friends” these days? because according to Trump all of Europe are “foes” (that’s literally his terminology, I am not ascribing a word to him he didn’t use), Canada isn’t so hot, Mexico and Central America are trying to invade, all Muslims are after us, and on, and on and on. the only “friends” we have in Trump’s eyes are North Korea and Russia, and he’s even managed to piss off the Kremlin, which is really “impressive” considering they elected him.

  3. Ah Mitch, the world settles in to economic chaos and you could have stopped it, but as usual, did nothing. No wonder Republican Senators are withdrawing and not choosing to run again. I guess they’re tired of the total lack of leadership with the American people’s interests at heart.

  4. How many days/weeks before Trump’s Ron Burgundy moment? If Navarro and crew keep pushing this, we’ll re-test S&P 2,350 by Labor Day.

  5. Anonymous

    I thought Elizabeth Warren had potential until I read her proposed trade policy several week’s ago. Like H, it scared the S**t out of me. Buy Gold.

  6. If I jingle the change in my pocket am I a currency manipulator?

  7. Listening today it seemed as if the Chinese did the opposite. They stopped manipulating the currency and let if fall, instead of propping it up when it goes lower.

  8. This fact that the Chinese are stealing our technology. I believe it is non-governmental businesses that have the issue. So why did the company let them steal the technology? Why not just leave? Why does the government have to be involved at all? No one forced any business to stay in China. But as Einstein so rightly said, if there is some situation going on that you just can’t understand, look at the economics. oops right again Al.

  9. Our corporations have been complicit all along in letting the Chinese steal our technology……it is also our corporations who have been more than willing to move our jobs anywhere they can avoid high wages, labor laws and environmental protections.

    We have definitely met the enemy and it is still “us”.

  10. Let me see if I have this straight; China sends us real goods and services that we want and use, and in return we keyboard some numbers into their checking account at the Federal Reserve ( which costs us exactly nothing). And we want to stop this, why?

  11. I don’t mind an apparently “overly tough” trade plan if executed by an Administration that is disciplined, rational, and capable of sensibly negotiating to a compromise result. Obviously any campaign plan is going to be 150% of what the author is actually willing to settle for.

  12. This morning PBoC stepped in to renew their manipulation by saying they’re ‘propping up’ their foreign currency to stop it from falling further. The markets liked it. As for jyl’s plea for American discipline, rationality, etc., a Bloomberg interview with a currency analyst in London this morning said he thought China was “the adult in the room,”

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