Social Comment: Monetary war, the haze of the war, the trading war has become more and

Ming Pao News Agency

Sino -US currency warfare haze rose suddenly, and the exchange rate of the complaints against the US dollar fell below the Seven Psychological Pass. The United States over there listed China as the exchange rate manipulating country.A new round of confrontation between China and the United States began last week that US President Trump announced a 10%tariff on 300 billion yuan of Chinese goods.The People's Bank of China emphasized that the depreciation of the renminbi is only in line with market changes. However, the Chinese side shows the exchange rate card for the first time in the trade war. It is also warning the United States. Do not think that increasing tariff injection can force the Chinese side to fight.The exchange rate manipulation country has been regarded as a trick of the United States. To this day, this trick is difficult to collect a sword to cover the throat in China.The current tough attitude of China shows that Beijing does not have high hopes to reach a trade agreement. It does not rule out that China ’s strong walls are clear until the year of the United States election next year, and in turn, pressure to Trump.

Human currency breaks seven welcome tariff exchange rates to manipulate national utility limited use

Talking about the Sino -US trade war, Trump's consistent strategy was to increase the limit of injection limit before the key negotiations. In early May, he suddenly imposed a 25%tariff to US $ 200 billion in Chinese goods, which was an example.At the end of June, the Special Conference, China and the United States agreed to resume consultations. Trump said that he would not impose new tariffs on Chinese goods for the time being.Last week, the representatives of the United States met in Shanghai and paved the way for the new round of trade negotiations in early September. Unexpectedly, it was unexpected.Trump suddenly announced that it will impose a 10%tariff to the remaining $ 300 billion in China.

The United States has re -re -re -appointed the old side, and China does not show weakness. In addition to suspending the purchase of new American agricultural products, it does not rule out to increase taxes on importing US agricultural products.After the financial tsunami in 2008, China did not allow the money to accommodate the exchange rate against the US dollar below the seven calculations.The bank emphasized that the decline in the renminbi since August is mainly affected by the global economic situation and trade friction, which is determined by the market supply and demand; however, it is generally believed that this is the first time that China has brought a exchange rate card in the trade war.The currency depreciation will be used as a weapon to offset the US tariffs.The market was worried about the upgrade of the Sino -US trade war to detonate the currency war. The Dow closed for 767 points on Monday. It was the worst performance of this year. Washington immediately announced that China was listed as a exchange rate manipulator. The Chinese side strictly refuted.

Washington threatened China as a exchange rate manipulation country. After speaking for many years, it has not been successful.This time, since 1994, the United States has listed China as a exchange rate for the first time, but now China is no longer Wuxia Amon, and Washington has not actually been greatly lethal. BesidesCharges.In the past year, the RMB against the US dollar has fallen by 2.7%at the shore price, and it is completely impossible to talk about the depreciation valley exit. Yesterday, the human bank also reiterated that although the Sino -US trade dispute continued, China always insisted on not engaged in competitive depreciation.Not long ago, the International Monetary Fund (IMF) only confirmed that the RMB exchange rate was roughly in line with the fundamental aspect. Even if Washington filed a complaint with the IMF, the opportunity was very low.

The U.S. Treasury Ministry of Finance manipulates three state -owned measurement standards, including a huge trade surplus to the United States, the frequent account surplus is equivalent to more than 3%of GDP, and continuously intervene in the exchange market.China actually only meets the first standard.According to U.S. law, Washington has listed China as a exchange rate manipulation country, including punishment measures, including prohibiting Washington official institutions from overseas private investment companies (OPIC) providing financing to China, and not allowing China to bid for Washington to purchase contracts., But China neither relies on OPIC nor to purchase contracts in Washington.It is no wonder that Goldman Sachs described that the United States labels the country to manipulate the country's exchange rate, symbolizing more significance than a substantial blow.

Trump has the pressure of elections. Chinese companies refuse to refuse to

Sino -US trade wrestling is in a state of stalemate, and both sides have no swords to kill their throats. The use of them in front of them is all the tricks.For example, the latest new 10%tariff measures in the United States cover a large number of consumer goods, such as toys, laptops and mobile phones. Analysts believe that new tariffs can reduce China's GDP growth by 0.5 percentage points, but harm to the US economy is even greater, and it will fight against it.Consumption and retail employment, if Trump further increases tariffs from 10%to 25%in the future, the damage will be greater. Even if the Fed will continue to pay interest rates, it may not be able to offset the crackdown on people's livelihood.Wall Street is currently worried about the upgrading of the trade war, and Trump is afraid of the consequences.In the past week, new tariffs and RMB storms have risen, and US stocks have reacted greater than the mainland stock market, which is a specific reflection.

The RMB seven and exchange rates to manipulate the country's storm has caused the risk of currency warfare in China and the United States. However, for the Chinese side, the sharp depreciation of the RMB is also a weapon that cannot be used casually.There are a lot of US dollars for debt.Yesterday, the RMB exchange rate stabilized, and the bank emphasized that the exchange rate will not take the exchange rate as a tool to deal with trade disputes. This week, people do not follow the United States to reduce interest rates, reflecting that China still wants to maintain the exchange rate stability.

The trade war is long -lasting, and in the final analysis, it is still fighting and pain, and China is obviously strong in this regard.American economist Luoqi believes that China shows the exchange rate card, and the most important information released is that if Trump pushes the tariffs or sanctions, China will not fight, and it will fight more strongly.The enemy has a thousand self -injury and 800 tricks.Next year will be the year of the United States election. The trade war continues to expand, and the impact on the US economy will gradually emerge. Trump's election pressure will increase.What actions do Washington's next step is still unknown.At present, there is still room for financial measures in Beijing to grow steadily, with capital to slow down the pace of negotiations, adopt a strategy of strengthening the wall, and the company's hard resistance to the United States to put pressure on the United States or even return to teeth.In the next few months, China -US trade confrontation may become more and more intense, which has set off more waves of the global economy. The Hong Kong economy with wind and rain may face a more severe test.