U.S. labeling China as currency manipulator not true: scholar - Xinhua | English.news.cn

时间:2019-08-13 18:04:33 作者:ag88环亚网址 热度:99℃
ag电投网 HomeChinaWorld BusinessCultureSportsSci & TechIn-depthEntertainmentMore∨PhotosVideoHealthLatestXinhua New MediaNew ChinaSpecial ReportsB&R InitiativeBiz China Weekly HomeLatest NewsChinaWorldBusinessPhotosVideoCulture & EduSportsSci & TechHealthSpecial ReportsEntertainmentNew ChinaEditionsAsia & PacificEuropeAfricaNorth America中文FrançaisРусскийDeutschEspañolعربي한국어日本語Português EditionsGlobal Edition China EditionAfrica EditionEurope EditionAsia & PacificعربيChinese(GB)Chinese(Big5)Français日本語русскийEspañol한국어DeutschPortuguêsNorth AmericaU.S. labeling China as currency manipulator not true: scholar Source: Xinhua| 2019-08-12 20:12:08|Editor: Li Xia Video PlayerCloseBEIJING, Aug. 12 (Xinhua) -- The U.S. assertion that the recent depreciation of the Chinese yuan against the U.S. dollar amounts to currency manipulation is not true, a U.S. scholar has said.It would be more correct to say that the Chinese authorities gave in to market pressure -- the immediate source of which was none other than U.S. President Donald Trump's announcement of new tariffs on Chinese goods, said Jeffrey Frankel, professor of Capital Formation and Growth at Harvard University, in his signed article titled "The Currency Manipulation Game" published Friday on Project Syndicate website.Trump tweeted on Aug. 1 that he will place an additional 10 percent tariff on the remaining 300 billion U.S. dollars' worth of Chinese imports starting on Sept. 1.The task of evaluating whether U.S. trading partners manipulate their currencies lies with the U.S. Treasury Department, which uses three criteria.Two of the three criteria coincide with internationally agreed yardsticks for manipulation under the Articles of Agreement of the International Monetary Fund: persistent one-sided intervention by the country to push down the value of its currency, and a large current-account surplus."Neither of these apply to China today," said Frankel, who previously served as a member of former U.S. President Bill Clinton's Council of Economic Advisers.The Chinese authorities' recent decision to let the Chinese yuan slip below the seven mark against the U.S. dollar may well have been a deliberate response to Trump's latest tariff offensive, Frankel added.The real significance of the U.S. decision to label China a currency manipulator is that it represents a further escalation of the two countries' avoidable trade war, the U.S. scholar said. KEY WORDS: YOU MAY LIKERoundup: U.S. labeling China "currency manipulator" baseless, experts sayAustralian economists refute U.S. accusation of China's "currency manipulation"No evidence to label China as "currency manipulator," says Nepali economistU.S. labeling China currency manipulator meets opposition, worries marketsLabeling China currency manipulator doesn't hold water: forex official MORE PHOTOS Swamp skiing competition held in northern Finland "This Is My Practice" maternity festival takes place in Moscow People enjoy Eid al-Adha holiday in Beirut, Lebanon Corban Festival celebrated in Kashgar, China's Xinjiang In pics: ancient villages in Anyi County, China's Jiangxi Sanitation workers work in China's Chongqing in high temperatures TOP STORIES Xinhua Headlines: China battles powerful Typhoon Lekima Association of Hong Kong Flag-guards holds flag raising ceremony at middle school Eco-China: Yunnan puts great efforts in promoting ecological civilization construction In pics: traditional Tibetan incense making EDITOR’S CHOICE/ 01. Spotlight: American documentarians explore China's war on poverty/ 02. Interview: U.S. financial industry veteran optimistic about U.S.-China relations/ 03. Xinhua Headlines: Serving the people -- unswerving mission of CPC/ 04. Spotlight: Experts say U.S. flip-flopping on trade policy/ 05. China's massive market breathes new life to Philippine coconut industry MOST VIEWED Ecological tourism helps promote township's revenue in China's Zhejiang Water festival held in Baoting Autonomous County of Li and Miao in Hainan People have fun at Nantian Lake scenic area in Chongqing In pics: Sun Island Scenic Area of Harbin in NE China EXPLORE XINHUANET NewsChinaWorldBusinessCulture EduSportsSci TechHealthEntertainment RegionsAsia & PacificAmericasEuropeAfricaOrganizationsNorth America ServicesInvestmentDoing BusinessWork in ChinaStudy in ChinaVisit in ChinaLive in ChinaEmergencyWeather MorePhotosVideoIn-depthSpecial ReportsCorrections 010020070750000000000000011100001383037471ag88环亚网址