Various-Currency Manipulation Accusation/Experts

U.S. labeling China as "currency manipulator" a political move: experts

  • English

Shotlist


FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
1. Tian'anmen Rostrum
2. Chinese national flag

FILE: Washington, D.C., USA - Date Unknown (CGTN - No access Chinese mainland)
3. White House
4. U.S. national flag

Brussels, Belgium -Aug 6, 2019 (CGTN - No access Chinese mainland)
5. SOUNDBITE (English) Daniel Gros, director, Center for European Policy Studies:
"According to its own rules, China is not a currency manipulator. And this means that the vestige of independent, impartial administration which we had in the United States, that is eroding, and I think this is a more serious part of this event, namely that the United States' entire political administrative system shows that it's no longer independent, no longer working along objective rules."

FILE: China - Exact Location, Date Unknown (CCTV - No access Chinese mainland)
6. Various of Chinese yuan banknotes being counted

Belfast, UK – Aug 6, 2019 (CGTN - No access Chinese mainland)
7. SOUNDBITE (English) Klaus Larres, distinguished professor of history and international relations, University of North Carolina-Chapel Hill:
"The Chinese currency has only declined by something like two percent, which is significant still, but not huge. And if you look at the British economy, the British pound sterling has gone down by nine percent over the last few months. And so that is really still within the realms of possibilities. So I wouldn't actually get too worked up about that. We have to see that it's political and part of the trade war."

FILE: Washington D.C., USA - Date Unknown (CCTV - No access Chinese mainland)
8. U.S. Capitol building, Washington Monument
9. Various of U.S. Capitol building, U.S. national flag

Beijing, China - Aug 6, 2019 (CGTN - No access Chinese mainland)
10. SOUNDBITE (English) Cui Hongjian, director, Department for European Studies, China Institute of International Studies:
"I think from China's perspective, we could not accept any kind of negotiation in Mr. Trump's way, which means giving very very big pressure, and you should have more concession with me, and I get everything, and you lose everything. So I don't think it will be the case for this issue."

FILE: New York City, USA - Date Unknown (CCTV - No access Chinese mainland)
11. Various of pedestrians, traffic

Storyline


The U.S. decision to label China as a "currency manipulator" is a political move in order to exert pressure on China during trade talks, according to experts on Tuesday in an interview with China Global Television Network (CGTN).

The U.S. Treasury Department announced the decision on Monday, claiming that China has been deliberately devaluing the Chinese yuan "to gain an advantage in international trade".

However, on May 28, 2019, the department just declared that China met only one of its three criteria, and was therefore not a "currency manipulator". Just two months later, it has overturned its own conclusions and contradicted itself.

Daniel Gros, director of the Center for European Policy Studies, disagrees with the U.S. decision and said it has reflected the problems within the U.S. administrative system.

"According to its own rules, China is not a currency manipulator. And this means that the vestige of independent, impartial administration which we had in the United States, that is eroding, and I think this is a more serious part of this event, namely that the United States' entire political administrative system shows that it's no longer independent, no longer working along objective rules," said Gros.

Belfast Klaus Larres, distinguished professor of history and international relations at the University of North Carolina-Chapel Hill, said the move is purely political and related to the trade dispute between the U.S. and China.

"The Chinese currency has only declined by something like two percent, which is significant still, but not huge. And if you look at the British economy, the British pound sterling has gone down by nine percent over the last few months. And so that is really still within the realms of possibilities. So I wouldn't actually get too worked up about that. We have to see that it's political and part of the trade war," he said.

Cui Hongjian, director of the Department for European Studies at the China Institute of International Studies, said that the U.S. move to label China as a "currency manipulator" is an attempt to exert pressure on China during the trade talks, which China will not accept.

"I think from China's perspective, we could not accept any kind of negotiation in Mr. Trump's way, which means giving very very big pressure, and you should have more concession with me, and I get everything, and you lose everything. So I don't think it will be the case for this issue," said Cui.

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  • ID : 8118201
  • Published : 2019-08-07 19:51
  • Last Modified : 2019-08-07 19:52:38
  • Location : Brussels,Belgium;Beijing,China;Belfast,United Kingdom
  • Category : economy, business and finance
  • Duration : 2'06
  • Audio Language : English/Nats
  • Source : China Global Television Network (CGTN)
  • Restrictions : No access Chinese mainland
  • Version : 2

Various-Currency Manipulation Accusation/Experts

U.S. labeling China as "currency manipulator" a political move: experts

Dateline : Aug 6, 2019/File

Location : Brussels,Belgium;Beijing,China;Belfast,United Kingdom

Duration : 2'06

  • English


FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
1. Tian'anmen Rostrum
2. Chinese national flag

FILE: Washington, D.C., USA - Date Unknown (CGTN - No access Chinese mainland)
3. White House
4. U.S. national flag

Brussels, Belgium -Aug 6, 2019 (CGTN - No access Chinese mainland)
5. SOUNDBITE (English) Daniel Gros, director, Center for European Policy Studies:
"According to its own rules, China is not a currency manipulator. And this means that the vestige of independent, impartial administration which we had in the United States, that is eroding, and I think this is a more serious part of this event, namely that the United States' entire political administrative system shows that it's no longer independent, no longer working along objective rules."

FILE: China - Exact Location, Date Unknown (CCTV - No access Chinese mainland)
6. Various of Chinese yuan banknotes being counted

Belfast, UK – Aug 6, 2019 (CGTN - No access Chinese mainland)
7. SOUNDBITE (English) Klaus Larres, distinguished professor of history and international relations, University of North Carolina-Chapel Hill:
"The Chinese currency has only declined by something like two percent, which is significant still, but not huge. And if you look at the British economy, the British pound sterling has gone down by nine percent over the last few months. And so that is really still within the realms of possibilities. So I wouldn't actually get too worked up about that. We have to see that it's political and part of the trade war."

FILE: Washington D.C., USA - Date Unknown (CCTV - No access Chinese mainland)
8. U.S. Capitol building, Washington Monument
9. Various of U.S. Capitol building, U.S. national flag

Beijing, China - Aug 6, 2019 (CGTN - No access Chinese mainland)
10. SOUNDBITE (English) Cui Hongjian, director, Department for European Studies, China Institute of International Studies:
"I think from China's perspective, we could not accept any kind of negotiation in Mr. Trump's way, which means giving very very big pressure, and you should have more concession with me, and I get everything, and you lose everything. So I don't think it will be the case for this issue."

FILE: New York City, USA - Date Unknown (CCTV - No access Chinese mainland)
11. Various of pedestrians, traffic


The U.S. decision to label China as a "currency manipulator" is a political move in order to exert pressure on China during trade talks, according to experts on Tuesday in an interview with China Global Television Network (CGTN).

The U.S. Treasury Department announced the decision on Monday, claiming that China has been deliberately devaluing the Chinese yuan "to gain an advantage in international trade".

However, on May 28, 2019, the department just declared that China met only one of its three criteria, and was therefore not a "currency manipulator". Just two months later, it has overturned its own conclusions and contradicted itself.

Daniel Gros, director of the Center for European Policy Studies, disagrees with the U.S. decision and said it has reflected the problems within the U.S. administrative system.

"According to its own rules, China is not a currency manipulator. And this means that the vestige of independent, impartial administration which we had in the United States, that is eroding, and I think this is a more serious part of this event, namely that the United States' entire political administrative system shows that it's no longer independent, no longer working along objective rules," said Gros.

Belfast Klaus Larres, distinguished professor of history and international relations at the University of North Carolina-Chapel Hill, said the move is purely political and related to the trade dispute between the U.S. and China.

"The Chinese currency has only declined by something like two percent, which is significant still, but not huge. And if you look at the British economy, the British pound sterling has gone down by nine percent over the last few months. And so that is really still within the realms of possibilities. So I wouldn't actually get too worked up about that. We have to see that it's political and part of the trade war," he said.

Cui Hongjian, director of the Department for European Studies at the China Institute of International Studies, said that the U.S. move to label China as a "currency manipulator" is an attempt to exert pressure on China during the trade talks, which China will not accept.

"I think from China's perspective, we could not accept any kind of negotiation in Mr. Trump's way, which means giving very very big pressure, and you should have more concession with me, and I get everything, and you lose everything. So I don't think it will be the case for this issue," said Cui.

ID : 8118201

Published : 2019-08-07 19:51

Last Modified : 2019-08-07 19:52:38

Source : China Global Television Network (CGTN)

Restrictions : No access Chinese mainland

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