Separating facts from fiction, is China a currency manipulator?
In 2016, the International Monetary Fund (IMF) added Chinese RMB to its special drawing rights (SDR) basket. The RMB joined an elite class of currencies which included the U.S. Dollar (USD), Euro, British Pound, and Japanese Yen to be safe, reliable and freely usable. IMF’s move may have raised many eye brows, as the Chinese RMB does not meet the criteria of being freely usable or widely tradeable currency in financial markets; It certainly did catch the attention of then U.S. Presidential candidate, Donald trump. He, after listening the news had said he would label China as a currency manipulator if he wins.