I don't see tariffs helping the American people. I don't see the media to blame for Trump's personal troubles. But author is certainl right that China may just want to wait out a weakened Trump. Europe as well.

I support Helicopter money. So did Milton Friedman. There is nothing silly about that concept unless you are willing to say Friedman was silly.

The author says it bests when he says:

China is basically just letting the Fed’s hawkishness do all the work here and the reason the Fed has to be so hawkish in the first place is because Trump’s fiscal policies amount to piling stimulus atop a late-cycle dynamic, increasing the risk of inflation. To make matters worse, tariffs have the potential to drive up domestic prices too. The Fed has to guard against that, which means if Trump is looking for someone to “blame” for Fed hikes and thereby for the policy divergence with China that’s pushing the yuan weaker, well then “mirror, mirror on the wall, who’s the most stable genius of them all?“

Just think, if the Yuan falls any further, China will be reimbursed with valuable dollars when it unloads its treasuries. Lol. Trump is over his head.

If you want a strong Yuan, Munchbaby, you need to stop the tariffs. It isn't rocket science.

Or perhaps fear drives people to bonds. It does not seem logical that all assets would be ruined at the same time.

At least the Chinese have tariff related reasons to crash the Yuan this time.

A truly cynical analysis. But likely true. Decoupling never works out.

Trump fired the first shot. China has no choice if it wants to continue exporting.

There also is danger in emerging markets with tightening.