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中英双语阅读6:Trump’s foreign exchange wobbles risk backlash at home

2017-4-20 20:07| 发布者: admin| 查看: 128| 评论: 0

摘要: Trump’s foreign exchange wobbles risk backlash at home:Donald Trump’s stunning policy reversal on China’s currency this week shone a light on the administration’s contradictory views on foreign e ...

Trump’s foreign exchange wobbles risk backlash at home 

2017-4-14 16:43| 发布者: 凡心| 查看: 159| 评论: 0



Donald Trump’s stunning policy reversal on China’s currency this week shone a light on the administration’s contradictory views on foreign exchange, and risks exposing the president to a political backlash over abandoned campaign promises, analysts say.    

The president on Thursday backed away from his signature vow to brand China a currency manipulator, executing a U-turn from one of his most attention-grabbing campaign pledges.  

It was one of a number of volte-faces this week, including a declaration that Nato is no longer “obsolete” and warmer words for Janet Yellen, the Federal Reserve chair, that appeared to leave open the option of reappointing her next year.    

By ditching the China pledge, Mr Trump helped ease bilateral tensions with Beijing, but also invited accusations that the president is going soft on his vows to clamp down on perceived unfair trade practices.  

China has hailed the decision, saying it would promote “more balanced growth” in bilateral trade. “We do not intend to spur export growth through competitive depreciation, and the renminbi has no basis for continuous depreciation,” foreign ministry spokesman Lu Kang said on Thursday.    

As recently as February, Mr Trump labelled Beijing a “grand champion” of currency manipulation and promised tough action, while his administration has urged the International Monetary Fund to take a tougher line with Beijing over currency.    

dn’t be sacrificed at the altar of international diplomacy. But that appears to be exactly what is happening here.”    

The China move opened the door to some Democrats, who had already begun to see Mr Trump’s softening on Beijing as an opportunity to reclaim the anti-trade message that was so crucial to his victory in November in industrial states such as Ohio.    

Chuck Schumer, the top Democrat in the Senate, this week said that the opposition party was assembling a trade package designed to get tough on China in order to force the president’s hand.    

Specialists in international economics welcomed the decision, saying that it recognised the reality in foreign exchange markets, given that Beijing has been intervening to hold up the value of the currency, not to drive it down.

The move leaves the door open to tough language in a forthcoming Treasury report on foreign exchange practices around the world, while defusing some of the tensions that have surrounded the China-US relationship.    

However, in the same interview with the Wall Street Journal in which he backed away from calling China a currency manipulator, Mr Trump renewed his complaints about the high value of the dollar, in words that will trigger concern in some overseas capitals.    

His declaration that the US currency was “getting too strong” clashed with recent messages from his Treasury secretary, Steven Mnuchin, who has stuck more closely to the traditional US rhetoric in favour of a strong dollar.

If Mr Trump persists with his willingness to verbally intervene about the high dollar, he will complicate relations with foreign partners over the longer run, analysts said.



分析人士表示,本周唐纳德?特朗普(Donald Trump)对待中国货币的政策发生惊人逆转,揭示了美国政府对于外汇问题的矛盾看法,并可能导致这位总统因背弃竞选承诺而遭到政治反弹。


这只是本周的一系列大转弯之一,包括一项说北约不再“过时”的声明,以及对美联储主席珍妮特尤伦(Janet Yellen)的态度更加热情——这似乎让她明年再次获得任命变得可能。





参议院民主党领袖查克?舒默(Chuck Schumer)本周表示,民主党正在起草一份旨在对中国采取强硬手段的贸易一揽子计划,以迫使特朗普展开行动。




他的关于美国货币“变得太强”的说法与他手下财长史蒂文?姆努钦(Steven Mnuchin)不久前的表态发生了冲突。姆努钦更贴近支持强势美元的传统美国表态。










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