A piece in the South China Morning Post argues that while China is not a currency manipulator, the US is.

Its an opinion piece and there are quite a number of gaping holes in it. I wont go over why it argues China is not a manipulator, in a nutshell the county fails on the US Treasury test. But, about the US:

  • through quantitative easing, US Federal Reserve Board policymakers have been engaging in "competitive devaluation" of the US dollar
  • encouraged capital to seek higher yields
  • American capital was free to go anywhere, it drove up the exchange rate of every other currency in the world, driving Japan and the euro zone to launch their own "competitive" quantitative-easing schemes to counter the devaluation of the US dollar.
    This is currency manipulation par excellence

Here is the link if you want more.

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Yeah, not buying that. They've managed to devalue it like …

A piece in the South China Morning Post argues that while China is not a currency manipulator, the US is.

Dollar index, past 10 years (roughly corresponding with QE )