A Case for China Avoiding Trump's Currency Complaints: Chart

(Bloomberg) -- China’s foreign-currency reserves have slumped as policy makers sold dollars to stop the yuan from sliding too rapidly, while the holdings of Taiwan and South Korea have continued to grow. This indicates Taiwan and South Korea have been “smoothing” gains in their currencies versus the dollar, suggesting they may have more to fear than China when it comes to Donald Trump’s administration potentially firing out accusations of currency manipulation, says Cameron Crise, a macro strategist who writes for Bloomberg.