Does anyone have an idea about the expected global response to the Secretary of the Treasury labeling China a currency manipulator?
http://www.economist.com/news/asia/21709923-there-risk-trade... : > He promises to label China a currency manipulator, but the only consequence of that would be that America would have to engage China in talks on the currency’s value, which would have no practical effect. The downside is pissing off China, which the US needs to get along. There is no upside -- China won't change its behavior because of a label.
The difficulty will be in keeping a straight face during talks designed to go nowhere.