Trump’s Chinese Currency Punt Shows Breakdown in Norm of Cooperation

I have a new post for the Roosevelt Institute on Trump’s latest currency moves. Here’s a teaser:

The Trump administration’s decision last week to punt on labeling China a currency manipulator disappointed some of his supporters, but should not have surprised anyone paying attention to the policy details. Indeed, it’s a culmination of decades of a hyper-legalistic approach to economic strategy.

In the post, I do a mad dash through some of the political and social explanations for the policy move, which complements the macroeconomic story that many commentators are focusing on.

Click here for the full thing.

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