- China is going to conduct itself in the spirit of the G20 leaders’ summit.
- Currencies depreciated against the US dollar in August.
The trade war between the United States continues to stir discussion among the world’s economic giants. According to a tweet by Eunice Yoon CNBC’s, “China showing concern it could be blamed for triggering currency war when wants to be seen as responsible global actor.”
Yoon was referring to remarks posted from China central bank’s governor two-days in Beijing. The governor of the central bank says that in no way is it using the yuan to fight trade disputes.
The governor adds that China is going to conduct itself in the spirit of the G20 leaders’ summit especially when it comes to the exchange rate issues. The situation around the world still stands as currencies depreciated against the US dollar. In fact, to some extent, China Yuan exchange rate has been affected. However, the central bank claims that the fluctuation is purely due to market forces.
“The People’s Bank of China and the State Administration of Foreign Exchange will maintain the stability and continuity of foreign exchange management policies and guarantee the legitimate use of foreign exchange by market players such as enterprises and individuals,” a section of the governor’s remarks.
Interestingly a chatter on the bank’s social media platform says that “There is nothing more to say. Let’s buy Bitcoin to avert the risk.”
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