Editors note: Managing the dollar exchange rate continues to gain credibility. President Trump has made no secret of his frustration that the United States dollar has strengthened against other currencies. [Matt Phillips | August 5, 2019 | The NY Times] The trade war between Washington and Beijing took an unexpected turn this week as China let…
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Editors note: The soft-pedaling of human rights abuses in China by several administrations and Wall Street should become the next big outrage. They have pretended that a country that kills, detains, harvests organs from and otherwise abuses large ethnic and politically dissenting portions of its population, like Uighur Muslims in concentration camps, is a normal…
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Editor’s note: CPA’s idea of managing capital flows as probably the only way to achieve a trade balance is gaining traction from new sources. The author is sloppy and incorrect in his tariff analysis. The US needs to use tariffs and manage the dollar, not just one or the other. They are different tools for…
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Editors note: China’s “unreliable entity” list punishes HSBC for helping catch Huawei’s CFO. Oddly there are still some that say that Huawei is not an arm of the Chinese government. China’s unreliable entity list is being drawn up, and any firm that violates laws and rules in the Chinese market would be investigated and dealt…
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Currency designation will initiate consultations on trade barriers Washington. The Coalition for a Prosperous America (CPA) today strongly praised the Trump administration for formally designating China as a “currency manipulator.” US manufacturers have long complained about Beijing’s currency manipulation, which has made Chinese exports artificially cheap in the US market. This is the first time…
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Editors note: The Chinese way. Concealing actions and intentions. “China ‘has not used and will not use the exchange rate as a tool to deal with trade disputes,’ the PBOC said in a statement on its website.” BEIJING/SHANGHAI (Reuters) – China’s central bank said on Tuesday that Washington’s decision to label Beijing as a currency manipulator…
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Editor’s note: The 25 year old currency war against the US has been joined. Washington – The Omnibus Trade and Competitiveness Act of 1988 requires the Secretary of the Treasury to analyze the exchange rate policies of other countries. Under Section 3004 of the Act, the Secretary must “consider whether countries manipulate the rate of…
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Excerpt. “A.I.’s military power is the simple reason that the recent behavior of America’s leading software company, Google — starting an A.I. lab in China while ending an A.I. contract with the Pentagon — is shocking.” At its core, artificial intelligence is a military technology. Why is the company sharing it with a rival? [Peter Thiel | August 1,…
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Editors note: Conservative opinion leaders are starting to focus on the need for a competitive dollar. Senator Josh Hawley (R-Mo.) has wasted very little time in becoming one of the most important senators in this new freshman class. [Rachel Bovard | August 3, 2019 | American Greatness] From introducing provocative legislation to go after Big…
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Editors note: Japan does not sleep walk through currency conflicts. Its financial ministry fights back. Tokyo financial traders do not squawk about wanting a strong yen. If they do, no one listens to them. TOKYO (Reuters) – Japan’s top currency diplomat on Monday warned investors against significantly pushing up the yen, signaling that Tokyo was…
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