Silly Dog

In front of the camera of Fox News, Trump's newly appointed US Treasury Secretary Benson said shockingly: "The exchange rate of the RMB is decided by me, or more precisely, by the United States!" This bold statement is like an untimely gust of wind, and it seems to completely ignore the rule that the Eastern power had already established four years ago - "The exchange rate of the RMB is determined by market supply and demand." This statement really makes people marvel at his "unique insights."

The United States seems to always dream of making the economy of the Eastern power submit to its will, but the reality is that the Eastern power has a rock-solid domestic demand market and an impeccable industrial chain. Even if the international market is turbulent, it can remain unmoved here, and even move forward steadily on the road of RMB internationalization. Bessant, the new official, seems to have not yet understood this key point.

If he really stubbornly believes that "the United States can control the RMB exchange rate", then the economic cooperation between China and the United States may turn into a smoke-filled "sausage war", which will undoubtedly be a catastrophe for the global economic recovery. If the exchange rate is manipulated unilaterally, the sparks of trade friction and the shadow of the Cold War will no longer be empty talk. Does Bessant really have such ability? I am afraid that even he himself is worried. #汇率 #全球经济 #贸易革命