Not surprisingly, the IMF failed to resolve global tension regarding the yuan this weekend.
According to WSJ, the US plans to “step up” its pressure on China. But if you read the story, there’s little there — no specific suggestion of what this would entail.
As it turns out though, this is the week when Treasury is due to release its mid-year currency report on China. Will the country be branded a “manipulator.”
Of course not. Somehow, despite the fact that Chinese currency manipulation is one of the government’s top issues right now, Treasury never can actually come out and put it in writing.