China's mid-August yuan devaluation has also confounded the Republican field. The candidates say they want China to follow free-market principles, yet they accused China of currency manipulation when it allowed the market to play a larger role in determining the yuan's exchange rate. When the yuan kept falling, and China sold dollars to prop it up, the Republicans (and some Democrats) accused China of dumping Treasuries to undermine the U.S. economy. It's a damned-if-you-do, damned-if-you-don't policy.
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