By Tuesday, the bank had shored up the yuan to let it settle at 6.9683 to the dollar — a signal that Chinese authorities may not have been comfortable letting the value of the renminbi to continue sliding, according to wire service reports.By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time.
The Chinese central bank made its initial move on Monday following Trump's announcement last week that he would impose a 10 percent tariff on another $300 billion worth of Chinese goods, on top of his earlier decision to impose a 25 percent duty on $250 billion worth of imports from China. The central bank also said its currency is much stronger now than in the mid-2000s when American politicians first became concerned about China's currency practices and began pushing Beijing for reforms.
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The 45th wants to prevent the establishment of the Mega-thesis of Economic Development for Excellence with China because it will include third world Partnerships in the sharing of the Common-Wealth of Nation-Building.
WhiteHouse SMH, in these upside-down times, it's easier to believe china than POTUS 😞 fakepresident illegitimatepresident 10000lies tradewar tariffsaretaxes
Ignoring reality is the name of the game at this point.
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