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Old 08-15-2019, 12:36 PM   #3176
scho63 scho63 is offline
Politically Incorrect
 
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Quote:
Originally Posted by TwistedChief View Post
I don't think there's a simple answer to this. My own personal view is that Trump is certainly on the right track in standing up to China, particularly on the issue of IP theft, but his haphazard methods aren't always ideal, certainly not for markets that don't appreciate his 'madman' style of negotiating (if that's even his deliberate intention). I also don't think it's clear at all that China's currency is 'manipulated' (a lot of countries run managed exchange rates for very genuine reasons) or undervalued right now - many smart people who would argue the exact opposite (based on different FX valuation frameworks). And trade balance is determined by a number of factors that aren't always so clear cut.

In my industry, I'd say there's a general belief that standing up to China is a good thing, but it's an extremely difficult issue to fix and Trump is proving that daily.
I would agree if China was an immature, unstable or small economy but nothing could be further from the truth now after 25 years of massive growth and controlled capitalism.

Their currency should be floating not fixed. That makes them a currency manipulator.
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