China fails to meet two of the three criteria set by the US Treasury to identify currency manipulators.
THE Trump administration’s designation of China as a currency manipulator may be more a symbolic move than a substantive one, but it is yet another step in the escalation of conflict between the world’s sole superpower and its biggest, fastest-rising competitor.
The US Treasury Department’s decision came on August 5, the day the yuan dropped past the psychologically significant value of seven to the dollar for the first time in over a decade.
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