May 18, 2024
NewsUS Treasury Designates China as a Currency Manipulator

US Treasury Designates China as a Currency Manipulator

On Monday, August 4th, 2019 the United States Treasury took steps to formally label China a currency manipulator. The actions taken are rare and signify that trade escalations between the world's two largest economies are no where near ending.

"In recent days, China has taken concrete steps to devalue its currency, while maintaining substantial foreign exchange reserves despite active use of such tools in the past," the Treasury Department said in a statement that followed the People's Bank o...

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