Check this out:
China dropped the price of their currency to an almost a historic low. It’s called “currency manipulation.” Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!
— Donald J. Trump (@realDonaldTrump) August 5, 2019
How about that? China has trade weapons other than tariffs at its disposal. Who knew? Well, China did, for one. They released a statement blaming the depreciation of the yuan on “the effects of unilateralist and trade-protectionist measures and the expectations for tariffs against China.”
And now the whole world is panicking. Here’s another chart from the Wall Street Journal:
Buckle your seatbelts.
