Decision to label China a currency manipulator was impulsive and groundless
No matter how Donald Trump tries to convince the Americans that everything is under control and the U.S. is going to win the trade war, investors are convinced that the US president is bluffing. In 2018, the U.S. dollar was growing amid the escalation of the US-China trade battle, and the growth-gap between S&P 500 and Shanghai Composite indicated that the US tariffs damage the Chinese economy. In 2019, the situation has radically changed. The greenback is falling amid the expectations of the federal funds rate cut, the Chinese…
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