China Says They Have 'never Been Currency Manipulator'

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China's foreign ministry on Tuesday said that they have "never been a currency manipulator" in response to the United States removing Beijing from its list of offenders.

Written By Associated Press Television News | Mumbai | Updated On:

China's foreign ministry on Tuesday said that they have "never been a currency manipulator" in response to the United States removing Beijing from its list of offenders.

President Donald Trump's administration is dropping its designation of China as a currency manipulator in advance of the signing Wednesday of a Phase 1 US-China trade agreement.

The action announced Monday comes five months after the Trump administration branded China a currency manipulator. It was the first time that any country had been so named by the US since 1994 during the Clinton administration, even though most independent experts concluded that Beijing had stopped doing so years ago.

Also Tuesday, Geng hit back at Secretary of State Mike Pompeo's comments warning Silicon Valley not to facilitate China's use of surveillance technology, saying certain Americans "keep fabricating lies to attack and slander China."

Many analysts say tech competition is a key component of recent tensions between the US and China. Beijing has come under global criticism for its deployment of intrusive surveillance technology in the far western region of Xinjiang, where alleged central databases and AI-powered cameras flag individuals for detention in suspected mass internment camps.

Finally, Geng praised African countries following a flurry of visits by China's top diplomat, singling out African support of the Chinese stance on Taiwan.

"Relevant African countries' leaders and foreign ministers explicitly reiterated that they uphold the One China principle and that Taiwan is an inalienable part of Chinese territory," Geng said.

Tsai Ing-wen was reelected as Taiwan's president by a landslide Saturday in a victory that signalled strong support for her tough stance against China among voters determined to defend their democratic way of life.

It marked a major setback for Beijing, widely seen as backing Tsai's pro-China opponent.

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