Is Vietnam a Currency Manipulator? Implications for Developing Countries – Comments on the U.S. Treasury Report
WASHINGTON-The December 2020 U.S. Treasury Report (hereafter referred to as the TR) to Congress singled out Vietnam and Switzerland as currency manipulators. In Vietnam’s case, it is surprising that the U.S. Treasury openly expressed its concerns about a country that graduated from the group of low-income countries only a few years ago. Additionally, Vietnam’s GDP per capita and total GDP are a fraction of the U.S.’s, but the country is assessed in the same way as developed countries, including Switzerland and Germany, and/or as a large country, such as China and India.