President Trump is vilely angry that China is manipulating the yuan down in value. This is to undo everything he’s been striving for in the trade negotiations, and how dare they do such a thing? It’s also true that the yuan going own in value is the normal and obvious market response to the various trade tariffs being imposed upon Chinese exports. Blaming people for what ought to happen, blaming people for what would happen even if everyone did nothing, doesn’t seem that great a basis for international politics.

This leaves us with the only interesting question. Does the White House know all this, so the shouting is politics, or don’t they know this and we should be more worried?