, Columnist
China’s Hand Is Stronger Than Trump Thinks
Beijing is less concerned about capital flight than in the past and could easily let the yuan weaken further.
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U.S. President Donald Trump seems to think he holds the stronger hand in any currency war with China. Don’t bet on it.
The yuan is “under siege,” thousands of companies are abandoning the country and “massive amounts” of money are pouring from China into the U.S., the president wrote in separate Twitter posts over the past two days. The suggestion is that Beijing’s hands are tied by the risk of capital flight.