Arab Today, arab today brazil attacks china us over currency policy
Last Updated : GMT 13:45:24
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*

Arab Today, arab today brazil attacks china us over currency policy Arab Today, arab today brazil attacks china us over currency policy

 



Arab Today, arab today

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*

Arab Today, arab today brazil attacks china us over currency policy Arab Today, arab today brazil attacks china us over currency policy

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
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