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The Trump administration labels China a currency manipulator.
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The complaint is more than a bit muddled.
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Much lower production costs and a devalued currency gives China a huge advantage vs the United States with a trade balance 400% on China's favor.
August 6.– On August 5th the Trump administration deployed another weapon in its fight with China: name-calling. After some grousing on President Donald Trump’s twitter feed, the Treasury officially designated China a currency manipulator.
The Chinese government stands accused of devaluing its currency in order to gain an unfair advantage in international trade. It is the first time the Treasury has made such an accusation in over 25 years.
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