It's similar in intent (competitive devaluation to favor domestic industry), but China's version has historically involved more direct, opaque control... the textbook definition of manipulation.... while the U.S. version relies on market forces + policy nudges.
There are some differences.
It's similar in intent (competitive devaluation to favor domestic industry), but China's version has historically involved more direct, opaque control... the textbook definition of manipulation.... while the U.S. version relies on market forces + policy nudges.