China says U.S. currency manipulator labeling could cause chaos in financial markets

REUTERS:

China’s central bank said on Tuesday that Washington’s decision to label Beijing as a currency manipulator would “severely damage international financial order and cause chaos in financial markets”.

Washington’s decision to ratchet up currency tensions on Monday would also “prevent a global economic and trade recovery,” the People’s Bank of China (PBOC) said in the country’s first official response to the latest U.S. salvo in the two sides’ rapidly escalating trade war.

China “has not used and will not use the exchange rate as a tool to deal with trade disputes,” the PBOC said in a statement on its website.

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