China's top central banker said on Saturday that potential escalation of tr...
WASHINGTON - China’s top central banker said on Saturday that potential escalation of trade tensions and policy uncertainty were the major risk factors facing the world economy, and market forces were keeping China’s yuan at an appropriate level.
Yi pushed back against the U.S. Treasury’s Aug. 5 designation of China as a currency manipulator after China’s yuan fell below the psychologically important level of 7 to the dollar. In a dig at the Trump administration’s “America First” trade stance, Yi said: “the wave of populism and protectionism in some countries has undermined mutual trust, reducing their willingness to cooperate on a multilateral basis.”
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