China lowers its currency value
Breaking News from China: China has broken the law by giving its currency devalue, China will be weaker in the coming days, Trump calls the move a conspiracy. US President.
During the recent trade war between the United States, If China reduces its currency value, US President Donald Trump calls it a “currency conspiracy” In one of his tweets, President Trump said that China has brought its currency to an almost historic low rate.
Addressing his finance ministry, he said, “Are you listening?”
President Trump said China had broken the law by doing its currency de-value and this will make China more vulnerable in the future and this will make China more vulnerable in the future after which a Chinese Renminbi equals seven US 7$. Observers say China’s move will make Chinese products cheaper worldwide and it will become the biggest competitor of American products. Not only that, but demand for Chinese products will increase in the US due to currency devaluation. This will increase the US trade deficit with China.