Like Tree7Likes
  • 1 Post By mrgoodkat
  • 1 Post By shri
  • 2 Post By mrgoodkat
  • 3 Post By hullexile

China - Currency Manipulator

Closed Thread
  1. #1

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,963

    China - Currency Manipulator

    Looks like we have another escalation today in the US / China trade war




    US Treasury designates China as a currency manipulator -

    https://www.cnbc.com/2019/08/05/us-t...nipulator.html

    MandM! likes this.

  2. #2

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,963

  3. #3

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,963

  4. #4

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,963

    And Krugman rushed an op-ed ...

    And think for a minute about what would happen to a country with an unmanipulated currency, if one of its major export markets suddenly slapped major tariffs on many of its goods. You’d surely expect to see that country’s currency depreciate, just as Britain’s has with the prospect of lost market access due to Brexit.

    In other words, the Trump administration in its wisdom has managed to accuse the Chinese of the one economic crime of which they happen to be innocent. Oh, and what are we going to do to punish them for this crime? Put tariffs on their exports? Um, we’ve already done that.

    So how does this all end? I have no idea. More important, neither does anyone else. It looks to me as if both Trump and Xi have now staked their reputations on hanging tough. And the thing is, it’s hard to see what would make either side give in (or even to know what giving in might mean.)

    At this rate, we may have to wait for a new president to clean up this mess, if she can.
    https://www.nytimes.com/2019/08/05/o...ina-shock.html

  5. #5

    Join Date
    Jan 2010
    Posts
    6,452

    I have a vested interest in the RMB staying high, but personally think that it losing a big chunk of its value would be great. Less money for the CCP to throw around and bully smaller countries, less money for this B&R stuff, less annoying Mainland tourists

    East_coast likes this.

  6. #6

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,963

    The RMB has moved a whole lot less than the GBP.


  7. #7

    Join Date
    Feb 2011
    Location
    Hong Kong
    Posts
    6,317

    Trump already said this. Lol.


  8. #8

    Join Date
    Jan 2010
    Posts
    6,452
    Quote Originally Posted by shri:
    The RMB has moved a whole lot less than the GBP.
    less annoying British tourists ruining my holidays, I like it.
    shri and Skyhook like this.

  9. #9

    Join Date
    May 2006
    Location
    Pampanga, Philippines
    Posts
    29,763
    Quote Originally Posted by shri:
    The RMB has moved a whole lot less than the GBP.
    I wish you hadn't got rid of the unlike button
    shri, mrgoodkat and timonoj like this.

  10. #10

    Join Date
    Oct 2007
    Posts
    1,896
    Original Post Deleted
    Unlike the bold tag.

    Am I showing my age if I remember the day and age when countries were trying to prop up their currencies?