Global Perspectives: U.S.–China Trade Tensions and the CNY.
Weekly commentary on international finance and economics including global events and how world issues affect our domestic issues.
U.S.–China Trade Tensions and the CNY
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The U.S. dollar has been trading in a narrow range over the past week, as public attention was diverted to stock market volatility.
Meanwhile, the Chinese Yuan (CNY) quietly touched a 10-year low. China's GDP growth rate has slowed down to its lowest pace in a decade and its stock market continues to slide. While Chinese officials are saying they will not use currencies as a weapon in the trade wars, there are few signs that China is blocking the further slide of the CNY.
The intensified trade tensions between the U.S. and China have invited various opinions about whether the conflict is helping or hurting the United States.
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