How Donald Trump’s currency war may end up hurting the US economy, rather than China

Worse than being unjustified, Washington’s decision to brand China a currency manipulator was misguided as it could backfire on the US economy. As for Beijing, it should resist any temptation to let the yuan slide precipitately. That wouldn’t be in China’s own interest. The Trump administration’s categorisation of China as a currency manipulator followed a fall in the renminbi’s value to more than 7 to the US dollar. But, in truth, if China has been influencing the yuan’s value in recent times,…

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