brazil attacks china us over currency policy
Last Updated : GMT 01:36:32
Arab Today, arab today
Arab Today, arab today

At the expense of trading partners

Brazil attacks China, US over currency policy

Arab Today, arab today

Arab Today, arab today Brazil attacks China, US over currency policy

China and the United States are crucial markets for Brazil
Paris - AFP

China and the United States are crucial markets for Brazil Brazilian Finance Minister Guido Mantega attacked both China and the United States for manipulating their currencies, at the expense of trading partners. \"Of course, China manipulates its currency and it (would be) better that the currency could fluctuate,\" Mantega told reporters on Thursday, after a meeting in Paris, picking up on a charge made by many of Beijing\'s trade partners.
At the same time, the minister criticised Washington, accusing it of adopting policies which led to a cheap dollar, crimping exports to the US market.
China and the United States are crucial markets for Brazil, especially of its agricultural products, but it has been increasingly unhappy that its own currency the real has soared in value while the yuan and dollar have weakened to its disadvantage.
\"I\'m criticising all the manipulation of currencies, not only the United States,\" Mantega said.
\"I don\'t know if in the United States it\'s exactly a manipulation. It\'s the quantitative policy that goes to an undervaluation of the dollar,\" he said.
The US Federal Reserve introduced a policy of Quantitative Easing, which effectively creates new money, at the height of the global financial crisis in an effort to get the slumping US economy back on track.
While justified as an absolutely crucial stimulus measure, QE in effect creates more dollars, acting to depress the value of the currency.
Washington has long charged Beijing with manipulating the yuan to gain an unfair trade advantage but China has replied in kind, voicing concerns that QE and a weaker dollar could undercut the value of its massive holdings of US government bonds and other dollar assets.
Mantega was asked what his government would do to ensure that the Brazilian real is not permanently overvalued but he declined to go into specifics.
\"All the time, we are taking measures to avoid the overvaluation of the real. I can\'t explain (more) ... because it\'s a surprise,\" the minister said.
Brazil has tried to slow the real\'s gains by limiting fund inflows, among other measures, but to little effect as strong economic growth and high interest rates continue to attract overseas money.
The Brazilian real is currently at around 1.56 to the US dollar, the highest level seen since the unit was floated in 1999 as the economy booms on massive demand for the its goods and raw materials at home and abroad.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

brazil attacks china us over currency policy brazil attacks china us over currency policy

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

brazil attacks china us over currency policy brazil attacks china us over currency policy

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday