China not a currency manipulator

The US Treasury opted not to call China a currency manipulator, a turn from past allegations. The Obama administration did however say the Chinese Yuan was undervalued. Economist Max Fraad Wolff from The New School in New York explained it was in the US best interest not to label China as a manipulator, because it would have hurt small businesses and lead to a great deal of political and economic penalties, as well as difficult negotiations.



People still don't understand that every nation has the right to value or in the USA's case, devalue their currency. The value of a nation's currency is a matter of sovereignty. Of course, the USA doesn't respect other nations' sovereignty. The USA doesn't even respect its own sovereignty. Art 1 Sec 8 Congress can coin money and regulate the value both of domestic and foreign coin meaning exchange rates. Of course, the "free market types" won't tell you that. They want an end to gov't.