A closer look at the currency war with China

collected by :Mathio Rix

A closer look at the currency war with ChinaBy SHLOMO MAOZChinese President Xi Jinping speaks to representatives of Arab League member states at a China Arab forum at the Great Hall of the People in Beijing, China, July 10, 2018. . On March 22 of this year, US President Donald Trump launched a trade war with China. Trump doubled the amount, threatening to increase tariffs on imports to $60b.Since then, a currency war has been escalating. The modern term, currency war, was coined by then-Brazilian finance minister Guido Mantega in September 2010, at the height of the global economic crisis. By mid-June, Beijing was still hesitant, and began claiming that they were up against a currency war.

China has its currency to use as a weapon in trade war with Trump

China's currency fell to a near 11-month low against the dollar Wednesday, after the Trump administration fired off a new list of tariffs on $200 billion in Chinese goods. China's currency has been sliding noticeably since mid-June after bumping around at higher levels from February through May. China's currency has been a sore point for a number of U.S. administrations, which have blasted China for allowing the renminbi to weaken to help exports. That would be commensurate with the trade shock we've seen," he said. UBS Global Wealth Management also said Wednesday that the Chinese currency could weaken to 6.8 yuan per dollar.

China has its currency to use as a weapon in trade war with Trump

China's yuan plunges again. Is a currency war coming?

as mentioned in China's currency is plunging again. Analysts said the yuan's latest dip came after China's central bank indicated that it was willing to accept a weaker currency. Instead, China's central bank — the People's Bank of China — helps guide the currency by setting a daily trading range. Related: China's yuan is weakening against the dollar. Related: China's economy shows signs of slowing.

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