Trump’s declaration is 上海后花园nt with any of the pr

reviously announced standards,” Hufbauer said. “Trump is toying with the idea of countervailing currency interve

上海后花园ntion-selling dollars to buy yuan-but that seems unlikely. The Fed is not likely to go along, and the Exchange Stab

ilization Fund controlled by the Treasury does not have the big bucks needed to move currency markets.”

In July, the IMF said the US dollar was overvalued by 6 percent to 12 percent based on near-ter上海后花园女神会所

m economic fundamentals, while China’s yuan was seen as broadly in line with fundamentals.

上海后花园Some estimate that a 10 percent appreciation of the dollar, relative to a trade-weighted current basket, reduces US

exports by about 1 percent of gross domestic product, or about $200 billion annually,” he said.

Usha Haley, the W. Frank Barton Distinguished Chair in International Business a上海后花园女神会所

nd a professor of management at Wichita State University, concurred that China did not manipulate its currency.

“A counter-argument to Trump would be China has just responded to these new rounds of tariffs,” she told China Daily.

上海后花园”The first rule of successful negotiations should be understanding

the other party and its interest, and it appears neither side understands the other.

“When elephants fight, the grass gets trampled,” she said. “In this case, the trade上海后花园女神会所

dispute between China and the US is hurting both parties and the global economy.”

In a statement on Monday, PBOC Governor Yi Gang said: “As a responsible big country, China will abide by the spirit of th

上海后花园e G20 Leaders Summit on the exchange-rate issue, adhere to the market-determined exchange-rate sys

tem, not engage in competitive devaluation, not use the exchange rate for competitive purposes and not use the

exchange rate as a tool to deal with external disturbances such as trade disputes.”上海后花园女神会所

Currency manipulation is based on two assumptions: First, that a nation

can lower the international value of its money by acquiring foreign currency r

eserves, and second, that a weaker currency gives a nation an unfair trade advantage.

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