Thanks for the info Mr Mad. You know I never read much about it - but frankly, this is how I learn. I like it when people challenge my ideas and thoughts and I have to do research to "back it up" or get a better understanding. I had no idea how closely related the "currency manipulation" label was to trade deficits or tariffs (pressure, as you put it, right?).Brad Seltzer is a sharp economist but don't place your trust in the Council for Foreign Relations. They are as anti-American a group of globalists as you can find. Nothing but a bunch of aspiring overlords.
The interesting thing about Brad's article (that he conveniently leaves out) is that China met both the old and new criteria of being a currency manipulator through the end of 2016. It was actually a result of President Trump's trade policies in early 2016 that caused China to no longer meet the (new) criteria of a manipulator after 2016. It's pretty clear that President Trump was using politics to his advantage in 2019. By continuing to label China as a currency manipulator (admittedly a political exercise since he used the old criteria), he was able to keep the pressure on their trade practices.
Thanks for posting the article.
I went into the wayback machine and found this article about Mitt Romney wanting to label China a currency manipulator in the 2016 debates, and this treasure trove of information from 2010 about China's history of currency manipulation and the continued Republican desire to reign it in with tariffs. I noticed that the trade deficit with China from the US continued to grow up until 1Q 2019, after which it has fallen off a cliff. Unfortunately, while currency traders and the US stock market make a mint off of this situation, US Consumers pay the balance of the tariffs in increased prices.
Frankly, it's all a bit over my head, but it's interesting to read about. I can see how rich people can be incredible beneficiaries of this situation.