We have seen this film before. The US Congress is threatening a trade war to punish “currency manipulators”, those it deems to be boosting their trade balance artificially at the expense of America. Ordinarily, a threat of legislative action like this folds in the face of a presidential veto. In the past this has resembled a good cop-bad cop routine. The White House would point to anger on Capitol Hill in order to persuade the likes of China and Japan to curb manipulation against the dollar.
我們以前看到過這種景象：美國國會正威脅要發動貿易戰來懲罰「匯率操縱國」，即那些它認爲以犧牲美國利益爲代價、人爲提振本國貿易收支的國家。通常情況下，美國國會採取立法行動的威脅會因美國總統行使否決權而止步。過去，這就像是一種「有人唱白臉、有人唱紅臉」的例行公事。爲了說服中國和日本等國收斂針對本幣兌美元匯率的操縱，美國政府會以國會對此感到憤怒向這些國家施壓。
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