Who is manipulating the exchange rate? Come and hurt each other-CFE - ChineseMicroNews

Who is manipulating the exchange rate? Come and hurt each other

Exchange rate export deflation currency

caixinwang· 2017-02-08 08:18:18

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] observer network integrated according to the British "Financial Times" reported on February 7th, the European Central Bank President Mario Delagi delivered a speech at the European Parliament in 6 days, back to the other American president Trump and economic advisor Peter Navarro accused the European control of the euro against the dollar, resulting in the depreciation of the euro and remarks on Trump comprehensive revision "Dodd Frank act" raised strong doubts.

"Financial Times" said that Trump accused the EU to implement the "Euro protectionism", the abolition of the financial regulation bill Delagi for the European defense, hit Trump accused a "fire", that adhere to the "America first" Trump, on both sides of the Atlantic are provoking differences and contradictions.

"Financial Times" website screenshot

president of the European Central Bank to dislike Trump: you are wrong, do not

the same day, Delagi accepted the questions in the European Parliament, the White House tried to repeal the 2010 implementation of the Dodd Frank financial a regulation bill, expressed serious concern, and the Trump team of multilateral trade policy heavy-hearted.

in addition, Delagi also denied the U.S. National Trade Commission Chairman Peter Navarro for the EU is manipulating the devaluation of the euro allegations.

"deregulation is the most should not do," Delagi told the European Parliament that there is strong strict supervision, in recent years the financial risk was reduced, "returned to the pre crisis state is very worrying".

and the other is the German finance minister Draghi: the European Central Bank should not open the expansionary monetary policy for

Trump accused the European Central Bank euro exchange rate, on the day of the meeting, German finance minister Wolfgang Schauble also expressed their views. Schauble believes that the euro is indeed undervalued, but should not blame germany.

Schaeuble accused the European Central Bank is causing the euro exchange rate is too low for Germany "". Strictly speaking,

relative to the German economy's competitive position, the euro exchange rate is too low, "said Schaeuble," when Delagi opened an expansionary monetary policy, I told him that he would push up Germany's export surplus...... At that time, I promised not to criticize the policy line. But then again, I don't want to be criticized for the consequences of this policy. "

Trump" the new government took office three fire: "waste free trade agreement, the financial regulation bill, said waste China German currency manipulation

last week, Trump signed a presidential decree, announced a comprehensive review of the Dodd Frank act, which indicates that the greatest achievement of the past six years in the field of financial supervision is facing" big shake". The bill is designed to prevent a new round of financial crisis caused by lax regulation, but in Wall Street protests that the bill is too harsh, so that they bear a heavy burden.

also last week, the Trump administration also accused China, Japan and Germany of deliberately undervalued its currency to gain a competitive advantage, as a hostile force in this regard, and promised to compete with them.

in addition, Delagi also expressed concern about the trade stance of the new U.S. government, although he said it is too early to conclude the matter. Worried about the "

trade protectionist policies we will of course the Trump team is very likely to be pursued, after all, the EU is based on free trade," Delagi said, "of course, how to evaluate and judge these measures, we must wait to see real order, resolution or bill it can make. "

Trump officially took office on the first day after the president signed a presidential decree, announced that the United States withdraw from the trans Pacific Partnership (TPP) negotiations. TPP is the 12 largest country in the free trade framework of Trump's predecessor Obama made painstaking efforts. In addition, Trump also said that between the United States and Canada, Mexico has implemented 20 years of the North American Free Trade Agreement (NAFTA), to restart negotiations, and will be listed as the primary task in economic work.

Delagi: we are not currency manipulator! Come on, hurt each other ah

for senior adviser, Trump in the economic and Trade Commission Chairman of the White House Peter Navarro declared that Germany is manipulating its currency, the euro against the dollar, the dollar against the euro appreciation ", Delagi also made a refutation. At present, the huge surplus of the current account in Germany, is widely discussed, and caused a serious controversy.

Navarro accused Germany of improper use of the deliberate devaluation of the euro against the U.S. dollar to stimulate exports.

"we are not a currency manipulator", Delagi said, "our monetary policy is reflected in the economic cycle, on the position of the United States and the euro area. "Compared to the euro zone, the United States recovered from the global financial crisis in the autumn of 2008.

Delagi added that after 2011, the European Central Bank will not intervene in the foreign exchange market; the reason to do so, because the commitment at the G7 meeting, the participating countries with joint efforts to help the global economy to recover as soon as possible.

Delagi also cited a report by the Obama administration to add arguments to his claim.

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