China: US can’t decide if a country is manipulating currency

TIL Desk/World/Beijing/ China said on Wednesday that Washington was not in a position to decide if a country was manipulating its currency after the US Treasury Department kept China in a monitoring list of economies over their currency exchange rate practices.

Addressing a press conference Chinese Foreign Ministry spokesperson Lu Kang said: “The conclusion that China is not a currency manipulator is in line with basic common sense and the consensus of the international community.

“We hope the US will respect the law of the market and the objective facts to not politicize the currency issue.” Lu said competent international organizations should decide if a country is manipulating its currency and cautioned the US against carrying out unilateral evaluations in this regard.

“China will continue to deepen the reform of its exchange rate, improve a market-based and regulated floating exchange rate system and keep the currency exchange rate basically stable at a reasonable level,” added the spokesperson.