미중 환율전쟁 예고…므누신 "위안화 조작여부 면밀히 주시"<br /><br /> The next phase for the two superpowers, following the tariff conflict, could be a currency war.<br />America's Treasury Secretary has vowed to closely monitor the rapidly weakening yuan for signs of manipulation.<br />Choi Si-young reports. <br /> U.S. Treasury Secretary Steven Mnuchin said last Friday in an interview with CNBC that he is closely monitoring the weakening Chinese currency, which President Trump has said China is manipulating.<br />He also said he will review whether to designate China as a currency manipulator.<br /><br /> The Chinese media responded Monday.<br />The Global Times, China's state-run English-language daily, quoted a number of pro-government pundits who said China is not manipulating its currency to help its exports, and it claimed China is doing everything according to market standards.<br /><br /> Experts say there is no sign of the Chinese government intervening directly... but that it may be allowing the yuan to depreciate gradually because that makes the country's exports cheaper.<br />Economists at JP Morgan support that view, noting that China has traditionally responded to trade disputes by letting the yuan depreciate. <br /><br /> According to Bank of America's wealth management division, Merril Lynch, a weakening Chinese currency lowers the purchasing power of Chinese importers, and in the long run, stimulates capital outflow.<br />Robin Brooks, chief economist at the Institute of International Finance, an industry group, warned that in light of the 2015 yuan depreciation crisis, a weakened yuan will likely lead to a plunge in oil prices.<br /><br /> He also said the currencies of countries that export raw materials, like Colombia, Russia and Malaysia, are likely to tumble first, followed by other countries in Asia.<br /><br />Choi Si-young, Arirang News. <br />