China doesn’t meet currency manipulator criteria, central banker says
Deputy PBOC chief Yi Gang says nation only meets one of three conditions for such status: maintaining a significant trade surplus with the US
China doesn’t meet the US criteria for a currency manipulator, according to deputy central bank governor Yi Gang, sending the bank’s first official message on the issue since the inauguration of US President Donald Trump.
“The threat of labelling China a currency manipulator is illogical. The People’s Bank of China already had thorough communications with the US Treasury Department,” Yi was quoted as saying by CPPCC Daily, a newspaper under China’s top political advisory body.
It is unclear when such bilateral communication was conducted or when Yi made the comments.
Trump has not yet acted on China trade or currency issues, but he has begun to fulfil key campaign promises, including pulling the United States out of the Trans-Pacific Partnership trade pact, in his first few days in office.
In an interview with The Wall Street Journal this month, Trump softened his tone a little by saying he would not name China a manipulator on his first day in office, but would “talk to them first”.
