Retaliation in the US-China trade war has taken a new form: the renminbi. Monday’s weakening of the Chinese currency past Rmb7 per dollar marks a decade low in the exchange rate and breaks through what is seen as a symbolic level. It is not, however, a sign of fatal weakness in the Chinese economy. Neither is it a fundamental shift in monetary policy. Coming just days after the US announced 10 per cent tariffs on the final $300bn imports from China, it is instead a clear sign that Beijing is prepared to use the currency as a weapon and let the trade war drag on.
美中貿易戰出現了一種新的報復形式：人民幣。週一，人民幣跌破1美元兌7元人民幣的水準，標誌着人民幣匯率的10年新低，突破了被視爲具有象徵意義的水準。然而，這並不是中國經濟存在致命疲軟的跡象，也不是貨幣政策的根本轉變。就在幾天前，美國宣佈對剩餘3000億美元中國輸美商品加徵10%關稅，因此此舉明確表明，中國政府準備以人民幣爲武器，讓這場貿易戰打下去。
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