Peoples Daily Wall Street Journal refutes that Navarros international media relayed reports from China to approve the US side.

category:Finance
 Peoples Daily Wall Street Journal refutes that Navarros international media relayed reports from China to approve the US side.


According to the Wall Street Journal editorial in the Navarro Recession, since the escalation of trade frictions in the United States in 2018, the confidence and capital expenditure of American enterprises have gradually declined, beginning to have a negative impact on the economic growth of the United States. Currently, U.S. economic growth has slowed from nearly 3% to 2%.

The editorial also said that the US tariff imposed on China would reduce market demand for RMB, while international capital inflows into US dollar hedge assets would cause the US dollar to appreciate. China has not manipulated its currency exchange rate. The fluctuation of RMB exchange rate reflects the relationship between supply and demand.

Time magazine also pointed out that the US governments use of trade as a political tool is an unprecedented interference to global trade. The trade war is leading the world to crisis, and no one can retreat entirely. Morgan Stanley warned global investors on May 5th that if the Sino-US economic and trade frictions persist, the global economy is likely to fall into recession within nine months.

William Reinsch, a trade expert at the Center for Strategic and International Studies, also warned that using exchange rates as a weapon could lead to a repeat of the Great Depression of the 1930s.

Lu Lei, deputy director of the State Administration of Foreign Exchange, said that the US Treasury Department labeled China as a currency manipulator is an integral part of the Sino-US strategy in economic and trade frictions.

Lu Lei said that the current balance of supply and demand in Chinas foreign exchange market and the continuous net inflow of foreign capital. There is little likelihood that cross-border funds will enter and leave China in a big way in the future.

At a seminar on the assessment of the development trend of Sino-US relations organized by the Chinese Academy of Modern International Relations on August 9, experts at the seminar said that the hegemonic acts of unilateralism in the United States not only made the constructive and cooperative relations between China and the United States retrogress, but also seriously affected and threatened the peace and development of the world.

Experts said that since last year, some Americans have repeatedly backfired, violating the consensus reached by the two heads of state and waving tariff sticks on Sino-US economic and trade issues. Recently, it was announced that China is the so-called exchange rate manipulator. This series of bullying acts undermined the atmosphere of Sino-US economic and trade negotiations and jeopardized the whole world.

Just on the evening of August 9, the news broadcasting station, International, made a sharp comment on the Hazardous Exchange Rate Card Harms the World and clearly pointed out that the US abacus could not play as well as it wished, but would cause turbulence in the global financial market, seriously hinder international trade and global economic recovery, and possibly trigger a very bad demonstration effect in the world. It endangers the stable operation of the international monetary system.

Peng Mei News noted that the Peoples Daily, published on August 10, will also publish an article by Jin She-ping entitled The farce of splashing the dirty water ofmanipulating the exchange ratewill end in failure. The article said that the US Treasury brutally labeled China as a currency manipulator after the RMB offshore and onshore exchange rates against the US dollar broke through the 7 integer barrier a few days ago. Some people in the United States have been unanimously condemned by the international community for their bad practices of ignoring facts and blaming others. The article points out that some Americans have repeatedly politicized economic issues, but only intensified the extreme pressure trick in an attempt to gain more benefits in the negotiations. Such blatant violation of international rules and unilateral assessment of other countriesexchange rate policies endanger the international economic and trade order and world economic stability. Facts will eventually prove that some American farces will end in failure. Source: Yang Bin_NF4368, Responsible Editor of Peng Mei News

Peng Mei News noted that the Peoples Daily, published on August 10, will also publish an article by Jin She-ping entitled The farce of splashing the dirty water ofmanipulating the exchange ratewill end in failure.

The article said that the US Treasury brutally labeled China as a currency manipulator after the RMB offshore and onshore exchange rates against the US dollar broke through the 7 integer barrier a few days ago. Some people in the United States have been unanimously condemned by the international community for their bad practices of ignoring facts and blaming others.