Why China not a currency manipulator – Societe Generale

Analysts at Societe Generale came out with a latest note on why China is not a currency manipulator, just a day ahead of the meeting scheduled between the US President Trump and China’s President Xi in Florida.

Key Points:

China's current account surplus has been below the 3% since 2011

Add in the PBoC's persistent FX interventions to support the RMB

And therefore China does not meet two of the three criteria currently adopted by the US Treasury Department for labelling an economy as a "currency manipulator"

The only criterion China meets is its big bilateral trade surplus over the US