The trade delegations from China and the United States have reached agreement on many “vital points.” The parties also discussed the need to monitor each other’s monetary policy, as Yi Gang, the governor of the Chinese central bank, says. He did not give exact details about the progress in the conversations.
China and the US are trying to come to an agreement, to be able to put a stop to their continuing trade. Yi is one of the Chinese delegates at the table with the Americans. According to him, the Chinese currency and earlier commitments to the G20 countries, among others, were discussed in order not to take part in anti-competitive measures on currency issues.
The US previously accused China of manipulating the currency, keeping the yuan artificially low to stimulate Chinese exports. According to Yi, the cold over currency manipulation is out of the blue. China believes that trade in two directions must be fair and equal.