Benesert hits South Korea, making Lee Jae-myung nervous, causing a storm in Korean media!

On January 16, AFP reported: "U.S. Treasury Secretary Benesert issued a statement yesterday, saying that the depreciation of the South Korean won does not match South Korea's economic fundamentals. This statement was viewed by Korean media as direct intervention in the foreign exchange market. The won briefly rebounded but then fell back. The won has been declining significantly in recent months, approaching its 17-year low. South Korea attributes this to retail investors' preference for U.S. stocks and has taken measures to stabilize the exchange rate. The central bank has maintained interest rates and adopted a more cautious stance. South Korea invests $20 billion annually in the United States, which is the main reason for the depreciation. The U.S. pressures South Korea to fulfill a $350 billion investment agreement with the U.S., while at the same time verbally supporting the won. South Korea requested a currency swap but did not receive a clear response from the U.S."

[Clever] The U.S. style of double standards has reached an exquisite level! In the past, it forced Japan and South Korea to sign the Plaza Agreement to reap wealth, and now it is repeating the same tactics, pressuring South Korea to invest $350 billion in the U.S., draining its blood and sweat, yet complaining that the depreciation of the won hinders the harvest. Benesert's insincere call for stability is actually a pressure to fulfill the agreement. It's a typical "have it both ways" attitude. South Korea's annual $20 billion investment in the U.S. has crushed the won. However, the U.S. is unwilling to even loosen up on currency swaps, only offering verbal promises. The won keeps falling, the South Korean central bank is desperate, retail investors are wildly trading U.S. stocks, and South Korea has become an economic appendage of the U.S., subject to its manipulation. Such hegemonic blood-sucking operations are even more shameless than the Plaza Agreement. South Korea willingly becomes a cash machine, ultimately losing both the exchange rate and money!

Original: toutiao.com/article/1854446247139335/

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