Andrew Ross Sorkin Says China May Stop Manipulating Its Currency to Retaliate Against Trump's Tariffs

The story is that in a desperate move, since it doesn't have more imports to tax, China could dump $1 trillion in U.S. treasuries to screw the United States. No part of this makes any sense.

China bought up massive amounts of U.S. treasury bonds and other foreign assets to keep down the value of its currency against the dollar. This helped its competitive position, allowing it to continue to run a large trade surplus, a major anomaly for a fast-growing country. These purchases of treasury bon...