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US officials say they will work with the International Monetary Fund to eliminate what they described as an unfair competitive advantage created by China.
The remarks follow Beijing’s August 5, 2019, move to allow the yuan currency to drop to the lowest level in 11 years, in apparent retaliation for Washington’s threat to impose new tariffs on Chinese goods.
US President Trump has declared China a currency manipulator, a charge China’s central bank has denied, saying it has “refused to engage in a competitive devaluation” despite escalating trade tensions.
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