By definition of the US Treasury Department, three quantitative criteria need to be fulfilled concurrently to become a currency manipulator, including: 1) an annual trade surplus of over $ billion with the US, 2) a current account surplus accounting for 3 percent of GDP, and 3) the value of foreign exchange purchased for exchange rate interference purpose exceeding 2 percent of GDP.
The developments on the global financial markets that we have been witnessing in the past years are unprecedented in nature and have raised a number of challenges for policy makers and central banks alike.