CHINA/ECONOMY/STEVE MNUCHIN/TREASURY/TRUMP AS PRESIDENT: “China on Tuesday [8-6-19] strongly rejected the Trump administration’s determination that it’s manipulating its currency for an unfair trade advantage and accused the United States of protectionist behavior that is hurting the global economy…The Central Bank also accused the United States of ‘wayward unilateralism and protectionist behavior that seriously undermines international rules and will have a major impact on global economic finance.’ Late Monday [8-5-19], Treasury Secretary Steven Mnuchin took the rare step of formally declaring China a currency manipulator — a designation that no U.S. administration has made in regard to any country since 1994, when China was designated for the first and only other time. Mnuchin’s announcement came hours after President Donald Trump lashed out at Beijing for allowing its currency, officially known as the renminbi, to depreciate above 7 yuan-to-the-dollar for the first time in over a decade.”
–Doug Palmer and Adam Behsudi, “China rejects Trump charge of currency manipulation, calls U.S. ‘protectionist’,” Politico, August 6, 2019 10:48 am