Rantburg

Today's Front Page   View All of Mon 05/25/2020 View Sun 05/24/2020 View Sat 05/23/2020 View Fri 05/22/2020 View Thu 05/21/2020 View Wed 05/20/2020 View Tue 05/19/2020
2019-08-27 China-Japan-Koreas
China lets yuan sink, Trump says serious talks to start
[DAWN] China allowed its yuan to sink on Monday while US President Donald Trump
...Perhaps no man has ever had as much fun being president of the US...
said the two sides will talk "very seriously" about their war over trade and technology following tit-for-tat tariff hikes and Trump’s threat to order American companies to stop doing business with China.

The escalations prompted warnings that the chances of a settlement of the fight that threatens to tip the global economy into recession were disappearing. But Trump, speaking at the Group of Seven (G7) meeting of major economies in La Belle France, said serious negotiations would begin.

"We are going to start talking very seriously," Trump said. He said the Chinese "mean business".

Trump gave no details. Negotiators already were scheduled to meet next month in Washington following talks in Shanghai in July that ended with no signs of progress.

The Chinese central bank allowed the yuan to decline to 7.1468 to the dollar in tightly controlled trading. It was a relatively modest change from Friday’s low point of 7.0927 but its weakest rate since January 2008. The yuan has lost 6.5% from this year’s high on Feb 28.

Chinese leaders have promised to avoid "competitive devaluation" to help exporters in the face of Trump’s tariff hikes. But regulators are trying to make the state-set exchange rate more market oriented. That allows investor jitters about the tariff war and its impact on Chinese economic growth to push the yuan lower.

Posted by Fred 2019-08-27 00:00|| E-Mail|| Front Page|| [225 views ]  Top
 File under: Commies 

#1 Like Reagan vs Soviets in this case it probably helps that the media has been portraying the President as unhinged.
Posted by ruprecht 2019-08-27 19:49||   2019-08-27 19:49|| Front Page Top

07:00 Procopius2k
06:59 Dacama
06:58 M. Murcek
06:56 Procopius2k
06:53 M. Murcek
06:51 Procopius2k
06:51 lord garth
06:48 Procopius2k
06:41 Besoeker
06:40 Mike Kozlowski
06:31 Besoeker
06:19 Besoeker
06:16 M. Murcek
06:02 M. Murcek
05:52 Besoeker
05:50 Besoeker
05:30 g(r)omgoru
04:34 g(r)omgoru
04:28 3dc
04:19 Dale
03:33 g(r)omgoru
02:55 SteveS
02:47 SteveS
02:42 SteveS

Rantburg was assembled from recycled algorithms in the United States of America. No trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
34.238.190.122

Merry-Go-Blog










Paypal:
Google
Search WWW Search rantburg.com