Submission statement: In the past, the U.S. has routinely accused China and other countries of currency manipulation, which is buying foreign currency with the intention of weakening one’s own currency to boost exports. As I hope to show in my grab-bag of screenshots, the U.S. has engaged in plenty of currency market interventions of its own, including explicitly to weaken its own currency, as well as other interventions to strengthen its currency or the currency of allies.
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Submission statement: In the past, the U.S. has routinely accused China and other countries of currency manipulation, which is buying foreign currency with the intention of weakening one’s own currency to boost exports. As I hope to show in my grab-bag of screenshots, the U.S. has engaged in plenty of currency market interventions of its own, including explicitly to weaken its own currency, as well as other interventions to strengthen its currency or the currency of allies.
While an argument could plausibly be made that the scale of China’s [foreign currency holdings](https://en.wikipedia.org/wiki/List_of_countries_by_foreign_exchange_reserves) are overly large, the real complaint is overall trade competition from China, not that it crosses the line of one of the [various](https://www.cfr.org/articles/tracking-currency-manipulation) rather arbitrary [definitions]( https://www.piie.com/blogs/realtime-economics/2020/currency-manipulation-remained-low-2019) of currency manipulation.