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China confirms not to devalue currency to counter trade tensions

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rocky
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China confirms not to devalue currency to counter trade tensions

Post by rocky on Wed 11 Apr 2018, 2:58 am

China confirms not to devalue currency to counter trade tensions






2018/04/11 10:16


(Encyclopedia of this Day News | Iraq News ) - Follow - up / Tomorrow 's Press: stressed China 'scentral bank governor Yi Zhang, on Wednesday, said that China will not devalue its currency to counter trade tensions with the US Altdh.oavadt news agency Xinhua Yi Jang Forum An Asian economist in China's Hainan Island, said the country's exchange rate system was "working smoothly".


Yi made the remarks two days after media reports on China's intention to gradually devalue the yuan to offset the impact of new tariffs on exports due to trade dispute with the United States. Chinese President Xi Jinping said on Tuesday that China is willing to expand its imports and achieve a better international trade balance. A dispute erupted between the world's two largest economies after President Donald Trump's decision to impose customs duties on $ 150 billion of Chinese imports to bring Beijing back last week with a $ 50 billion tariff declaration on US imports and promised to fight " "China filed a trade complaint with the World Trade Organization (WTO) on Tuesday against US tariffs on steel and aluminum imports, saying it was" contrary to WTO agreements. "


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