American economists believe that the differences between the United States and China have escalated so much that they can be described by
the term trade war.
This was reported by The Wall Street Journal.
The publication provides the results of a monthly survey of American
experts in the field of economics. 87% of respondents said they would
characterize the relationship between Washington and Beijing as a trade war.
In a similar survey conducted a year ago, the publication
indicates, experts were divided on an appropriate definition.
50% of them
were already ready to recognize the two countries entering the trade war, but
the same number adhered to more cautious statements, characterizing the current the situation as a “trade dispute”, “trade tension”, “trade battle” or “trade
skirmish”.
Recall, on August 5, the renminbi fell to a minimum in 10
years. The Chinese currency fell at auction to 7.0292 yuan per
dollar.
For the first time since 2008, the Chinese currency has broken the
psychologically important mark of 7 yuan per dollar. This happened after
the People's Bank of China set the average exchange rate at 6.9225 yuan per
dollar.
On August 6, the renminbi kept near this minimum, and on August 7,
the Central Bank of China lowered the renminbi to a new low in 11 years.
Moreover, as experts say, the “currency war” of China and the United States will affect Ukraine. So, a record collapse of the
renminbi will affect the dollar exchange rate in Ukraine.
The influence,
as experts explained, will be associated with world prices for raw materials.
As you know, the trade war between the United States and China
is escalating. So, US President Donald Trump said that the States from
September 1 will begin to introduce additional duties in the amount of 10% on
goods from China worth $ 300 billion.
In response, China began to abandon
the import of agricultural products from the United States.
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