China allows its currency to reach its lowest reported level...

China allows its currency to reach its lowest reported level since 2008 and instructs state-owned companies to suspend imports of U.S. agricultural products. In response, the U.S. Treasury Department designates China as a currency manipulator. This move escalates the ongoing trade dispute between the two countries and raises concerns about the global economic impact.China's decision to lower its currency and halt imports of U.S. agricultural products is seen as a strategic response to the escalating trade tensions with the United States. By devaluing its currency, China aims to make its exports more competitive while reducing the impact of U.S. tariffs.

Sunday, 4 August, 2019