Yuan Slide Risks Reviving Trump's Attacks on China's Currency
- Ten-day drop offshore matches the yuan’s record losing streak
- Trump’s recent criticism has focused on IP protection, deficit
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The yuan’s fastest fall since its 2015 devaluation is adding a new dimension to already frayed tensions between the world’s two biggest economies.
President Donald Trump -- who dubbed China the “grand champions” of currency manipulation early in his presidency -- is now being confronted with a 3 percent, two-week slide in the yuan that stands to make Chinese imports cheaper for American buyers and U.S. exports to China pricier. It’s a decent slump for a managed currency, and is fueling the anxiety around Chinese assets, with stocks in a bear market and corporate bond defaults on the rise.