nitiated the sel

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▓ng opening-up of the economy, while underscoring the imp▓ortance of structural fiscal reforms that c▓an enhanc

e medium-term growth.Welcoming th▓e country's commitment to multilateralism and a rules-based trading system, the executiv▓e directors agreed that trade tensions between China and th▓e United States should be quickly resolved through a compre▓hensive agreement that avoids undermining the▓ international system.The directors also concurred that greater exchange rate flexibi▓lity and deeper and better functioning foreign exchange markets would help the fina

ection proc▓ess f

ncial system prepa▓re for greater capital flow volatility.Please scan the▓ QR Code to follow us on InstagramPlease scan the QR Cod▓e to follow us on Wechat'Currency manipulator' accusation shows US double standards'Curr

n July.▓ Th

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ency manipulator' accusa▓tion shows US double standards'Currency manipulator' accu▓sation shows US double standards08-09-2019 09:35 BJTThe U.S▓. accusation that Ch

ina is manipulating its currency not only contradicts its own criteria in assessing currency manipulation, but also provides further evidence that Washington is willing to adopt double standards in its attempts to suppress its competitors.The United States has long be▓en using the exchange rate of its currency to maintain its economic dominance as the U.S. dollar r▓emains the global reserve currency. Washington has been consistently pressuring Beijing to increase the flexibility of its currency, the renminbi (RMB), despite t▓he increasing marketization China has achieved in reforming its exch

ange rate regime since 1994. The global financial market has experienced enormous fluctuations due to the rising trade tensions triggered by Washington's▓ moves to impose tariffs on China. The exchange r▓ate of the RMB, on the basis of market demand, has▓ been fluctuating in a wider range, showing increased flexibility. That's exactly what the United States has been pressing for, but Washingto▓n seems to have forgotten about its consta▓nt requests

e position o

, instead making incredible accusations against China and labeling the latter a curr▓ency manipulator. The situation is a

bsurd!In the meantime, ▓for more than a year, President Donald Trump has ▓been exerting pressure on the Federal Reserve for interes▓t rate cuts. The Fed eventually gave in and lowered interest rates for the first time in over a d

ecade on Wednesday last week, despite the fact that it was widely believed that now was not the right time to cut rates. In a rare move▓, four former Fed chiefs, namely, Paul Volcker,▓ Alan Greenspan, Ben Bernanke and Janet Yellen, jointly published a paper, saying that ▓"America needs an independent Fed," and that "the Fed and its chair must be permitted to act independently and in the▓ best intere

f IMF chief has

sts of the economy, free of short-term political pressures." But President Trump seems to have turned a deaf ear to the call, contin

rities' r▓ecent r

lue f▓or money of its products. The country boasts a comprehensive supply chain. To many American importers▓, Chinese products are simply irreplaceable. This is evident in terms of t

in reduc▓ing

financial sector frag
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