The US Treasury Department has declared that no major trading partner of the United States meets the standard of currency manipulation.<\/p>\n
In its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies, the Treasury Department concluded that no major US trading partner met the criteria to be labeled as a currency manipulator during the four quarters ending December 2018.<\/p>\n
It put China, Germany, Ireland, Italy, Japan, South Korea, Malaysia, Singapore and Vietnam on its \u201cmonitoring list,\u201d which means their foreign exchange policies bear close monitoring.<\/p>\n
The Treasury Department called on China to take the necessary steps to avoid \u201ca persistently weak currency,\u201d noting that improved economic fundamentals and structural policy settings would underpin a stronger renminbi (RMB) over time.<\/p>\n
Liu Guoqiang, vice governor of the People\u2019s Bank of China, said last week that China is \u201ccapable and confident\u201d of keeping the RMB exchange rate generally stable on a reasonable and balanced level.<\/p>\n
Adam Posen, president of Peterson Institute for International Economics, a Washington, D.C.-based think tank, said earlier on Tuesday at a press briefing that it\u2019s \u201cpretty close to absurd\u201d to accuse China of currency manipulation as China basically has not manipulated the currency for the last several years. (China Daily)<\/p>\n","protected":false},"excerpt":{"rendered":"
The US Treasury Department has declared that no major trading partner of the United States meets the standard of currency manipulation.<\/p>\n","protected":false},"author":3,"featured_media":2027,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_FSMCFIC_featured_image_caption":"US Treasury put several countries including China, Malaysia and Germany on its monitoring list recently Xinhua","_FSMCFIC_featured_image_nocaption":null,"_FSMCFIC_featured_image_hide":null,"footnotes":""},"categories":[3],"tags":[282,48],"yoast_head":"\n