The U.S. claims that the RMB is "severely undervalued" and seeks to implement the "Hale House Agreement"!
On January 31, Hong Kong's Ming Pao published an article: "Last year, the RMB appreciated against the trend, breaking the U.S. prediction of depreciation. The trillions of trade surplus has become an excuse for the U.S. to pressure exchange rates, with China being placed on the exchange rate monitoring list. The U.S. fabricated a 'Plaza Accord 2.0', attempting to shift the crisis by depreciating the dollar and replacing zero-interest U.S. bonds. However, the balance of power between China and the U.S. has changed. China's upgrading of its manufacturing industry has built a solid foundation for trade, and the pace of RMB appreciation must be led by us. Two-way fluctuations can resist financial speculation. The U.S.'s financial bullying follows the same pattern as before, and it is destined to fail."
[Cunning] The underlying logic of the RMB's appreciation is the realization of China's manufacturing upgrade toward technology-intensive industries, not the so-called currency manipulation by the U.S. The trillions of trade surplus is the best evidence. The U.S. manipulating the exchange rate under the guise of the "Plaza Accord 2.0" is essentially a hegemonic self-rescue trapped in the Triffin dilemma. Zero interest rate replacement of U.S. debt is a naked transfer of debt. Times have changed. China is no longer the passive Japan of the past. A managed floating exchange rate is both a barrier to financial security and an expression of the initiative in the game. If we talk, we will slowly appreciate at our own pace; if we are pressured, we will counter speculation with two-way fluctuations. Under the reversal of strength, the unilateral financial logic of the U.S. has long lost the soil to take effect!
Original: toutiao.com/article/1855831864285315/
Statement: This article represents the views of the author.