Does China Manipulate its Currency?

 The short answer is : Not anymore.

I have addressed this question on this blog twice before (in April 2016 and February 2014 ) and though I was done with it but it seems to keep re-emerging.

So today I am devoting a podcast episode to the topic. Also there are some graphs below the podcast link that depict important data related to the topic.

Graph 1: Exchange Rate- Yuan to the Dollar

Graph 2: China's Foreign Reserves (excluding gold)

Graph 3: Savings Rates

Source: Manning and Napier, Five Things to Know about US-China Trade

One more thing...

For a discussion of whether China was manipulating its currency in August 2019 when the Trump adminsitrations declared it a manipukatoir, see Brad Setser's Council on Foreign Relations brief