'Currency manipulator' label could irritate China, but requires no further U.S. action

If President-elect Trump follows through on his campaign promise to name China a currency manipulator, the severity of China's response could depend on whether he simply slaps the label on Beijing -- which has no legal repercussions -- or goes further and uses it as a justification for imposing trade sanctions. Labeling China a currency manipulator does not require the U.S. to take any punitive measures against that country, but rather requires the administration to launch negotiations with Beijing. Therefore,...