(Quartz) The key to Donald Trump’s 2016 presidential campaign to “make America great again” lay in a simple strategy: Pillory the culprits making America un-great. Toward the top of Trump’s baddie list were currency manipulators. In particular, the “world champion” of currency manipulation,” as Trump called it, “cheating China.”
Currency manipulation is indeed a problem, and has cost the US countless jobs. But Trump, it turns out, had fingered the wrong perp. He should have been railing not against China—but against Singapore and Switzerland.