Donald Trump says Russia, China playing 'currency devaluation game' Noor Arora
US President Donald Trump accused Russia and China on Monday of devaluing their currencies while the United States raises interest rates, prompting China to accuse the United States of sending confusing messages. "Russia and China are playing the Currency Devaluation game as the US keeps raising interest rates. Not acceptable!" Trump said in a Twitter post. Speaking in Beijing on Tuesday, Foreign Ministry spokeswoman Hua Chunying noted that what Trump said seemed to contradict the US Treasury's report that refrained from naming any major trading partners as currency manipulators. "So it seems like the information being released by the US side is a bit chaotic," she told a daily news briefing. Hua said it reminded her of a poem by the founder of modern China, Mao Zedong, about remaining calm in the midst of chaos. "No matter what others say we will continue to steadily promote the reform of the renminbi exchange rate mechanism," she added, without elaborating, using the currency's formal name.
ARTICLE SOURCE â€“ BUSINESS STANDARD
Donald Trump says Russia, China playing 'currency devaluation game'