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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    China responds to Washington: We will not devalue the currency to support exports

    Rocky
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    China responds to Washington: We will not devalue the currency to support exports Empty China responds to Washington: We will not devalue the currency to support exports

    Post by Rocky Mon 23 Jul 2018, 6:34 pm

    China responds to Washington: We will not devalue the currency to support exports





    2018/07/23 15:04

    (Encyclopedia of this Day News | Iraq News ) - Direct: China confirmed that the value of the local currency is driven by market forces , denying any intention to reduce the value of the yuan to help exports, the suspension is intended to respond to Washington.

    Chinese Foreign Ministry spokesman Jiang Shuang said in a press statement on Monday that threats to trade would not work with Beijing, quoting Reuters.

    The Chinese comments come in the wake of US President Donald Trump's threat that he is willing to impose tariffs on all Chinese goods worth $ 500 billion.

    US Treasury Secretary Stephen Munchin said the weakness of the Chinese yuan would be reconsidered as part of the ministry's semi-annual report on currency manipulation scheduled for Oct. 15.

    The Chinese Foreign Ministry confirmed that the value of the yuan was subject to demand and supply forces, noting that the performance of the health economy gave support to the currency.

    China has no intention of using such measures as the competitive devaluation of its currency to stimulate exports, Xuang said.

    Last week, US President Donald Trump accused China and the European Union of manipulating the currency.

    The US import bill for Chinese goods totaled about $ 505 billion last year, resulting in a trade deficit of $ 376 billion.

    Washington has imposed customs tariffs on Chinese goods worth 34 billion dollars amid reprisals from Beijing.

    "We advise the US side to remain calm and maintain a rational position," the Chinese Foreign Ministry said.

    By 11:01 am GMT, the Chinese yuan against the US dollar was down 0.3 percent to climb the green card to 6.7909 yuan.



    Note: The content (China responds to Washington: We will not devalue the currency to support exports) was first published on Mubasher and the encyclopedia of this news day is not guaranteed in any way. 
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