President Trump this morning tweeted that China and Russia are playing the “devaluation game” against the US.
Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!
— Donald J. Trump (@realDonaldTrump) April 16, 2018
In fact, China’s Real Effective Exchange Rate (exchange rate adjusted for comparative inflation) has roughly doubled in the past 25 years. In nominal terms, the yuan is 30% higher against the dollar since 2005.
Now I truely believe Tweeting is for teens.
She is preparing the run-away. That’s why it can’t be delayed.
The more games the US and the separatists on the island play, the sooner the reunification arrives.
Hopeless. Felt so sorry for the great americans having to stoop so low in the game. Have some pride.
China is the world’s number two economic power,. but the average wage in the country is under $9,000 USD. Eight African countries have higher per capita GDP. China is artificially keeping th Yuan and wages low to support their export driven economy. Trump is correct. If anyone else on this thread is an economist and disgarees, please challenge me.
This article that claimed the fact that the Chinese Yuan has risen 30% against the dollar since 2005 was proof that China is not manipulating the currency. Of course, during the same time period the average income in China has nearly quadrupled. So, I think this would suggest that the currency is being kept artificially low.