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China today described itself as the “grand champion” of economic development and rejected US President Donald Trump’s allegation of currency manipulation to gain unfair trade advantages.
“China has no intention of seeking foreign trade advantages via an intentional devaluation of the renminbi.
There is no basis for the continued devaluation of the renminbi,” Chinese Foreign Ministry spokesman Geng Shuang told the media here refuting Trump’s allegation.
Trump, who was strongly critical of China during his campaign, said in an interview that he had not “held back” in his assessment that China manipulates its currency.
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