International China declared Currency Manipulator

[Last Samurai]

I think the point is why do the banks get a zero interest fed rate, but the government doesn't.

The system is designed to enrich the banks

After all they created it

 

[Orgasmo]

Good. Fuck China

What does that mean in the real world? I mean does this open up additional options for the US?

After declaring a country as "currency manipulator", US can technically impose sanctions and tariffs against that state. The problem is Trump already launched his trade war with China, with each side imposing tariffs. Realistically, this is a symbolic gesture of little economic value, but politically it's a signal that the trade war has escalated significantly.

Think of it like a declaration of war in financial terms. US and China are already battling, so this makes it formal.

 

[Orgasmo]

Did they ever truly really stop being currency manipulators?...

Every state actor in the world manipulates their currency to some extent. What did you think the Quantitative Easing by US Federal Reserve was during the Great Recession of 2008?

 

[cottagecheesefan]

Lollll, was looking for the original COVID sherdog thread and saw this in the search also. Bless trump for always being right, as China is literally trying get off the US currency being what dictates the world.

Edit for some recent links about this, in case people aren’t paying attention.

The Dominant Dollar Faces a Backlash in the Oil Market

Seeking to reduce their reliance on the U.S. currency, some major emerging economies are dabbling in trading commodities without using the dollar.

www.wsj.com

Chinese, Saudi Central Banks Sign Currency Swap Worth $7 Billion

China and Saudi Arabia signed a local-currency swap agreement worth around $7 billion, deepening their ties as countries across the Middle East and emerging markets look to shift more of their non-oil trade away from the dollar.

www.bloomberg.com

How Xi Jinping is challenging dollar dominance with landmark Saudi deal

Growing alliance between Beijing and Riyadh threatens to topple American hegemony

www.telegraph.co.uk

 

[Ruthless Ryan]

china got a few probs going on. The belt and road project is a disaster and their many ghost cities are also trillions of dollars in Fuck up's by XI.

 

[cottagecheesefan]

china got a few probs going on. The belt and road project is a disaster and their many ghost cities are also thrillions of dollars in Fuck up's by XI.

Don’t disagree at all with that. But with us in so much debt, we also have crumbling cities, our foreign policy, among other things. Are we much different?

 

[mjfan23]

since Trump admin was a renowned subject matter expert on manipulation: China is a certified manipulator