Currency manipulator claim another unwarranted attack on China
The decision by the United States Department of the Treasury to label China a currency manipulator is the latest sign that Washington will resort to any possible means, no matter how unreasonable, to force China into agreeing to its trade terms.
The announcement came after the yuan's exchange rate weakened to more than 7 to the dollar on Monday. It is ridiculous for the US to assume that there was exchange rate manipulation based on a change in the exchange rate of the yuan on a single day.
That decline was a natural market reaction after the latest trade talks between the two countries failed to produce a breakthrough and the subsequent threat by the US government that it would impose new 10 percent tariffs on $300 billion worth of Chinese goods starting from September.
