Why China Has Actually Been Trump’s Best Friend In Guarding Against Yuan Depreciation

When the Trump administration labeled China a currency "manipulator" this week in the wake of the PBoC's decision to hit back at the latest US tariff threats by letting the yuan weaken past the psychologically-important 7 threshold, Steve Mnuchin doubtlessly knew the move was counterproductive. Why? Simple: Over the course of the trade war, Beijing has sought to prevent excessive yuan weakness, not encourage it. It's true that the currency has depreciated quite a bit over the last year and it'
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3 thoughts on “Why China Has Actually Been Trump’s Best Friend In Guarding Against Yuan Depreciation

  1. So now the narrative is that the administration’s new best friend has been helpful – uh, until they get insulted enough to say “Well just forget it, we’ll let it float!” A new tool in their toolbox?

  2. Obviously “manipulation” was to strengthen the Yuan. Trump is like a spoiled kid that calls his parents names when he gets disciplined. Then Navarro opening his mouth on CNBC confirms the sentiment of Rex T.

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