Listen, Heres Why the Value of Chinas Yuan Really Matters

The China-US trade conflict is taking a more severe turn. President Trump announced a 10 percent tariff on an additional $300 billion of Chinese imports; the Chinese government responded by allowing its currency, the yuan, to fall to more than 7 to the dollar—the lowest in a decade. The US government then formally labeled China a “currency manipulator,” which carries no formal penalty but sets in motion a process that might lead to sanctions by the International Monetary Fund. Currency moves are arcane. Only a few professional traders dabble here, though in East Asia many people trade currencies the way people trade stocks in the US. Headlines blaring that “China devalues its currency” are as likely to be greeted with …

Amazon Warns Customers: Those Supplements Might Be Fake

On the second evening of Prime Day, Amazon’s annual sales bonanza, Anne Marie Bressler received an email from Amazon that had nothing to do with the latest deals. The message, sent from an automated email address Tuesday, informed her that the Align nutritional supplements she ordered two weeks earlier were probably counterfeit. “If you still have this product, we recommend that you stop using it immediately and dispose of the item,” the email reads, adding that she would be receiving a full refund. It’s not clear how many other customers may have purchased the fake supplements. Amazon confirmed that it sent out the email but declined to specify the number of customers impacted. For years, Amazon has battled third-party sellers …

Break Up Big Tech? Some Say Not So Fast

For years, the US government stood by as big tech companies like Facebook and Google growth hacked and gobbled up competitors on their way to dominance, with barely a mention of “anticompetitive” concerns. But that lax attitude is changing. Word continued to leak this week about possible antitrust investigations by the Justice Department and the Federal Trade Commission, who reportedly divvied up companies like a couple might divide household chores. (The DOJ calls dibs on Google and Apple, while the FTC gets Facebook and Amazon.) House Democrats, meanwhile, are launching an antitrust probe of their own over competition in the tech industry more broadly. It’s too soon to tell whether any of this activity will lead to meaningful regulation, or …

Big Tech: Breaking Us Up Will Only Help China

Over the past week, both Facebook chief operating officer Sheryl Sandberg and former Google CEO Eric Schmidt made the same appeal to American nationalism, with differing degrees of subtlety: Breaking up Big Tech will only help China. It’s a politically expedient plea as calls for regulating tech intensify amid growing concern about China’s tech prowess and an escalating US-China trade war. But the argument rests on the idea that what’s good for Facebook and Google is good for America. It also ignores how Silicon Valley is simultaneously seeking growth through partnerships with some of those same Chinese competitors, such as Google’s investment in JD.com and reported talks with Tencent to bring Google Cloud to China. Sandberg made her case against …