USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Macro

Labeling China a currency manipulator 'stupid': economist

By Zhang Haizhou | chinadaily.com.cn | Updated: 2017-03-06 10:56

A prominent economist has predicted the United States won't follow through on President Donald Trump's strong rhetoric and label China as a currency manipulator.

Yu Yongding, a former member of the Chinese Central Bank's monetary policy committee, said such a "stupid" action would go against Washington's own interests.

He said the renminbi would depreciate if China stops its "intervention" and the result would be bad for the US.

If the value of the renminbi falls, it will boost China's exports, which may lead to a widening of Washington's trade deficit with Beijing.

Trump declared China "grand champions" of currency manipulation late last month. He had pledged to declare China a currency manipulator on his first day in the White House, but he has not carried out the threat.

"It would be really good if he did," Yu joked. "But he didn't, showing people in the US government have told him that doing so would be stupid."

He said he believed that the US Treasury Department would not announce China as a currency manipulator in its April report.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US