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Correct Option is China

The United States has designated China a ‘currency manipulator’ thus fulfilling Donald Trump’s election campaign promise. The treasury department accused China of manipulating its currency “to gain unfair competitive advantage in international trade”. It alleged that China has a long history of facilitating an undervalued currency through protracted, large-scale intervention in the foreign exchange market. The US action came after China allowed its yuan to weaken past the key seven-per-dollar level on Monday for the first time in more than a decade. The US will now ask the International Monetary Fund to “eliminate the unfair competitive advantage created by China’s latest actions”. This move could escalate the tense trade relations between the two nations.

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