Wall Street business news giant Bloomberg predictably came to China’s rescue in the currency war with the Trump White House, declaring China wasn’t a currency manipulator as named by the Treasure Department. Wall Street has apologized and appeased China for decades in order to gain access to the Chinese market under any circumstances, even with forced technology transfer and the like under Chinese Communist leadership.
The lead in an article published recently reads, China took steps to limit weakness in the yuan, providing some stability to global financial markets in the wake of Monday’s rout (those wonderful Chinese saving the world from our terrible president).
“The PBOC had the fixing stronger than 7 to correct herding behavior yesterday,” said Stephen Chiu, a strategist at Bloomberg Intelligence. “It’s a message to the U.S. — we aren’t manipulating the currency weaker. If markets drive dollar-yuan rate even higher and out of hand, I don’t think the PBOC will sit there doing nothing,” wrote Bloomberg this morning.
It sound’s appropriately Wall Street speak. Look for more love for the murderous Chicoms to come from Bloomberg as the trade war progresses.
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