International China declared Currency Manipulator

[VivaRevolution]

Trump administration labels China a currency manipulator


Washington D.C.(CNN Business)The Trump administration on Monday designated China a "currency manipulator," after the country's central bank allowed its currency to weaken amid the ongoing trade dispute.

The move comes hours after Trump accused Beijing of depreciating its currency on Twitter, adding later that such measures have been used to "steal our business and factories, hurt our jobs, depress our workers' wages and harm our farmers' prices. Not anymore!"

The People's Bank of China allowed its currency to fall below 7 yuan to the American dollar, which is considered to be a psychologically important marker, for the first time in a decade. The move was seen as a retaliatory measure following Trump's threat to slap a 10% tariff on $300 billion of Chinese goods.

https://amp.cnn.com/cnn/2019/08/05/business/china-currency-manipulator-donald-trump/index.html

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The sky is blue, grass is green, and China manipulates it's currency.

After 2 decades we finally decided to call a spade a spade.

Good job Trump. This is about the 4th thing you have done as president i support.

Discuss.........

 

[mudflap mike]

take a deep breath

 

[Happy Man]

About time

 

[panamaican]

Good.

 

[VivaRevolution]

take a deep breath

I wouldn't recommend it in Beijing without a respirator mask.

 

[Headkicktoleg]

Seems like quite the gambit. China has a LOT of debt and a lot of America bonds. I guess they really are afraid of businesses leaving

 

[robotsonic]

People always complain about the lies of the economic system but will criticise Trump for this. China's currency rate is a 30 year old lie that everyone has bought into. A correction was always coming but it was more of a question of who had the balls to do it.

 

[robotsonic]

Seems like quite the gambit. China has a LOT of debt and a lot of America bonds. I guess they really are afraid of businesses leaving

America also has a lot of Chinese debt, that's how the world economy works...also Chinese national debt is a big issue in the country at the moment, there is an estimated $6 trillion off the books debt from Chinese local government entities to the state, which is essentially a write off. If you don't think that a top down manipulated economy hasn't been doing lots of fucke dup shit in the last 30 years you're deluded.

One of China's biggest objections to being a true free market economy is that they have a lot of bullshit under the table that would ruin them if it ever comes out. It's an open secret if you work in this sector. Also part of the reason why a lot of big western banks don't put serious money into the Chinese stock market. The big crash that happened a few years ago only really hurt private investors as that was like 70% of the money in the market at the time. 70% of money in the stock market being private investors is INSANE.

 

[WarDosAnjos]

Can't support this. Trump is just trying to justify his comments sending DOW into a 1000 point plunge. Why is he given credit for this from his base but not condemned for selling arms to Saudis.

 

[VivaRevolution]

Seems like quite the gambit. China has a LOT of debt and a lot of America bonds. I guess they really are afraid of businesses leaving

I do laugh that China has allot of our debt.

I just want to put this in perspective.

China holds 1.1 trillion in treasury debt.

In a 24 hour period after the housing collapse, the FED conjured over 17 Trillion dollars in electronic transfers.

We can literally just buy those treasury notes with our money we conjure out of thin air. We have the game so rigged it is hilarious.

 

[Cubo de Sangre]

Boycott China.

 

[VivaRevolution]

Boycott China.

Right here boys. Fuck Amazon.

https://madeinamericastore.com/

 

[Headkicktoleg]

I do laugh that China has allot of our debt.

I just want to put this in perspective.

China holds 1.1 trillion in treasury debt.

In a 24 hour period after the housing collapse, the FED conjured over 17 Trillion dollars in electronic transfers.

We can literally just buy those treasury notes with our money we conjure out of thin air. We have the game so rigged it is hilarious.

I meant China OWES a lot of people. Not that they own a lot of our debt. They have like 10% of our total debt.

 

[Strychnine]

About time

It only took 3 years.

 

[Happy Man]

Can't support this. Trump is just trying to justify his comments sending DOW into a 1000 point plunge. Why is he given credit for this from his base but not condemned for selling arms to Saudis.

Everyone condemns him for those arms sales.

But the media doesn’t really attack this as much as they should. For obvious reasons.

The Kashoggi killing should have been enough to upset or freeze relations with the Saudi. But nope.

 

[Orgasmo]

Trade war is here to stay then. That pretty much guarantees a global recession from this point, along with Brexit looming in Europe and Japan/South Korea spat.

 

[VivaRevolution]

Trade war is here to stay then. That pretty much guarantees a global recession from this point, along with Brexit looming in Europe and Japan/South Korea spat.

I'm not worried. China is playing right into our hands doing this slowly. We have capital flowing from our gills, and rising prices in Chinese goods. Seems like a perfect storm for job creation.

 

[Orgasmo]

I'm not worried. China is playing right into our hands doing this slowly. We have capital flowing from our gills, and rising prices in Chinese goods. Seems like a perfect storm for job creation.

There is no job creation. Majority (~80%) of manufacturing job losses in US were caused by automation, while industrial output has actually increased year over year. The jobs that migrated to China will go to Vietnam, India, Indonesia or Cambodia instead. Meanwhile, US firms that are counting on their exponential growth to deliver their target results will probably cut back production. On average, US service sector's business in Chinese market grew approximate 30% a year for the past decade.

Next job report is going to get ugly. There is no winner in a trade war. There is a reason that Navarro is considered a fringe nutjob by his Wall Street peers.

 

[all caps]

Right here boys. Fuck Amazon.

https://madeinamericastore.com/

I dont know about you guys but I've been making a point to buy local any time I can.

Let's raise up our towns, our local businesses, our local business owners and get off this tit.

 

[Last Samurai]

I do laugh that China has allot of our debt.

I just want to put this in perspective.

China holds 1.1 trillion in treasury debt.

In a 24 hour period after the housing collapse, the FED conjured over 17 Trillion dollars in electronic transfers.

We can literally just buy those treasury notes with our money we conjure out of thin air. We have the game so rigged it is hilarious.

Yes you can conjure money out of thin air

But it is not free. It's gotta be paid back, with interest.