Despite the International Monetary Fund (IMF) ruling that China is not deliberately depreciating the yuan, Washington still wants everybody to agree that its trade war rival is a currency manipulator. And here is how.
Lobbying the internationally recognized independent economic body to take its side in the trade war has been futile so far for the IMF’s largest shareholder, the US, as Treasury Secretary Steven Mnuchin failed to talk the institution into it. However, the IMF is on the verge of a sensitive leadership transition, and this is where Washington can step in.
“Mnuchin is backing [Kristalina] Georgieva, the World Bank’s chief exec, to replace [Christine] Lagarde. Georgieva, who has a close relationship with Georgieva, could be installed at the IMF as early as October,” Boom Bust co-host Christy Ai said.
This will be the point at which the US will “surely” renew its attempts to pressure the IMF into addressing Beijing’s currency policy. However, if it bows to Washington’s pressure, it could cast a shadow over the IMF’s neutrality.
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Source : RT Business News
How will US push the world to recognize China as currency manipulator? RT’s Boom Bust investigates
How will US push the world to recognize China as currency manipulator? RT’s Boom Bust investigates
