US President-elect Donald Trump has continued branding China as a currency manipulator – accusing the country of keeping the yuan low to help Chinese exports and harming jobs in the US. But in fact China’s currently intervenes in the opposite direction to prevent a weakening of the yuan – supporting American jobs.
Donald Trump’s election as US president has increased expectations for China to act as a responsible global power. But Beijing is unlikely to fill these expectations, and China risks being harmed by the fallout of an erratic and possibly reckless US foreign policy.
The EU should speed up negotiations about a Bilateral Investment Treaty with China. With US trade policy in limbo after the election of Donald Trump, there is an opportunity for Brussels to move ahead with Beijing.
Beijing has made good on its promise to make a greater number of high-level government documents available to the public. Yet the principle of CCP rule will ultimately define the boundaries of transparency.