The US Treasury has designated China a currency manipulator. Photo: AFP

Is this the start of an economic cold war between China and the United States?

  • First it was the trade war and geopolitics, now Beijing and Washington are at odds over currency
Topic |   Currency war

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The US Treasury has designated China a currency manipulator. Photo: AFP
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Monday represented the first time the yuan had fallen below the psychologically important level of 7 to the US dollar since 2008. Photo: Xinhua

China says ‘no such thing’ as currency manipulation despite US claim it depreciated yuan exchange rate

  • US Treasury declared China a ‘currency manipulator’ on Monday after the yuan fell below the key threshold of 7 to the US dollar for the first time since 2008
  • People’s Bank of China says it has ‘refused to engage in a competitive devaluation’ despite the year-long trade war with the United States
Topic |   Currency war

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Monday represented the first time the yuan had fallen below the psychologically important level of 7 to the US dollar since 2008. Photo: Xinhua
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