The internationalisation of the RMB has been progressing rapidly as China rolled out a series of policy measures to improve settlement infrastructure and pricing mechanisms that aim to stimulate greater cross-border use of its currency worldwide.
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Trump also vowed to protect American ingenuity and investment by forcing China to uphold intellectual property laws and stop their unfair and unlawful practice of forcing United States companies to share proprietary technology with Chinese competitors as a condition of entry to China’s market.
“By watching the Obama administration, you might think that nothing can be done about all this”, Trump wrote in a Wall Street Journal op-ed.
The focus on China comes as Trump prepares to take part in the fourth Republican presidential debate Tuesday night in Milwaukee. He now has a slight lead over retired neurosurgeon in the Real Clear Politics average of national polls for the 2016 GOP nomination.
Trump sharply criticized Obama for striking a deal with Xi given China’s possible links with major hackings of the US government. He said in August that America should start “un-coupling from China because China’s got problems”. China doesn’t want to rock the gold price boat is the theory, so it can continue accumulating a massive gold reserve which it sees as vital in cementing its place in the global economic hierarchy. While Standard Chartered Plc estimates inclusion could lead to as much as 7 trillion yuan ($1.1 trillion) of inflows over the next five years, Daiwa says the outcome will have little impact on China’s prospects and predicts the currency will slide 15 percent against the dollar by the end of next year.
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“My analysis indicates that the currency has risen sufficiently that it’s now no longer undervalued”, said Peterson senior fellow William Cline. “No more sweatshops or pollution havens stealing jobs from American workers,”the paper reads”.
