The currency manipulation game

The trade war between the United States (US) and China is heating up again, with US President Donald Trump abruptly announcing plans to impose a 10 percent tariff on the US$300 billion worth of imports from China that he had so far left untouched. The Chinese authorities then allowed their currency, the renminbi, to fall below the symbolic threshold of CN„7 per US dollar.

11 August 2019

Weaponizing the yuan

China's move to devalue its currency could prove to be a double-edged sword in its escalating trade war with the United States (US), offsetting tariffs but potentially hurting Beijing's efforts to shore up its weakening economy, analysts say.Although China's central bank governor Yi Gang insisted Monday that the country would "not engage in competitive devaluation", Washington wasted no time in formally labelling Beijing a currency manipulator when the yuan plunged be

9 August 2019