Wall Street Journal reports China promises not to devalue the yuan

The Wall Street Journal (gated) report on:

• Beijing Prepares Its Opening Bid to Talk Trade With Trump

The mish mash of ideas China has to negotiate with Trump, the Journal cites (according to unnamed sources), include:

• Going back to a previous trade deal from 2020
  • Phase One deal required China to increase purchases of American goods and services by $200 billion over a two-year period. Analyst estimates say China bought only 58% of the U.S. goods it had committed to purchase.
• Offer to make more investment in the US
• Not to devalue the yuan to find competitive advantage

This is all a bit vague, but it’s a start maybe.

This article was written by Eamonn Sheridan at www.forexlive.com.