Two days before “Phase One” of a U.S.-China trade deal is to be signed, Treasury Secretary Steven Mnuchin announced that his department was removing China from its list of “currency manipulators.” This was a “condition precedent” in order to get the deal done. It was a victory for China and an indicator that much more work needs to be done in “Phase Two” and future additional agreements to rein in China’s hunger and thirst for American capital and technology, often acquired through deceit and manipulation. Its war on the West won’t be stymied in the slightest even after “Phase One” is signed.
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