Surprise. China is not a currency manipulator
President-elect Donald Trump is wrong when he says China is holding its currency down. According to the U.S. Treasury Department, China is not a currency manipulator. It may have been in years past, but for the past two years or more, economists have observed that China is — if anything — propping its currency UP, not holding it down. In the words of one economist, China is “doing the U.S. a favor.”
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