China Opens New Front in Trade War, Manipulating Its Currency

China Opens New Front in Trade War, Manipulating Its Currency
A bank employee counts out 100 yuan (14.3 USD) notes at a bank in Shanghai on August 8, 2018. JOHANNES EISELE/AFP/Getty Images
Emel Akan
Updated:

WASHINGTON—China has resorted to currency manipulation, allowing the yuan to fall against the U.S. dollar, in an apparent effort to blunt the effect of the trade war on the Chinese economy.

The United States labeled Beijing a currency manipulator, after the Chinese renminbi weakened to its lowest level since 2008, slipping below the level of 7 per dollar, which had been thought to be crucial for preventing a run on the yuan.

Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
twitter
Related Topics