China’s exchange rate poses major challenge to fairer trade – US Treasury
Renminbi has fallen by 6.25% against US dollar in 2018, reserves have declined by $74 billion
The US Department of the Treasury says China’s exchange rate policies pose a major hurdle to achieving a fairer global trade system in its semi-annual report on global trading and currency policies.
In the report, the Trump administration stops short of labelling China a currency manipulator, but insists its exchange rate policies lack transparency.
The report concludes that while the currency practices of six countries demand close analysis, no major US trading partner met the criteria for
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