As I read Bloomberg News this afternoon, it is clear that China stands alone from other countries in receiving criticism over its manipulation of currency. This criticism is long overdue.
The rise of nationalism in China fueled by economic success has led to an inflexible position in pegging Yuan to Dollar exchange rates. The one-party system of government limits opposing views on the matter and debate is closed.
The recent actions of withholding rare earth elements from Japan, if only temporarily, along with the declaration of apparent economic sanctions against Norway for the award of the Nobel Peace Prize to a Chinese national are concerning trends.
I hope the Chinese government can moderate and abide by the currency trading standards that are the norm for the rest of the world. It is a proven system that has been a historic driver of economic growth.
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