Trump’s Currency Confusion Continues
Harvard economist Jeffrey Frankel notes:
“China does not meet the three criteria that Congress has set for determining currency manipulation. It has not been persistently intervening in foreign-exchange markets (at least not to push down its currency), and it is not running an overall current-account surplus greater than or equal to 3% of GDP”
Swiss Paradox: Booming Economy, Negative Interest Rates
It is worth noting that Switzerland’s current account surplus in 2017 was around 9.8% of its GDP, while China’s current account surplus in 2017 was about 1.3%-1.4% of its GDP (according to IMF data).