They warn in China that there could be a currency war with the United States

For his part, the former governor of the People's Bank of China, Zhou Xiaochuan, said at the meeting that the conflict with the United States could extend from the trade front to other areas including politics, the army and technology.

He called for efforts to improve the global role of the yuan in solving the problems of a dollar financial system.

The People's Bank of China has allowed the yuan to weaken below the 7 percent dollar mark this week, which has led to the United States. They accuse China of monetary manipulation.

President Donald Trump He added that negotiations with China scheduled for next month could be canceled. Internally, conflicts add a new dimension to the search for a balance: how to support the economy while avoiding an exchange rate that widens its distance from the United States.

One of the leaders of the People's Bank of China at the meeting said that "tensions with the United States could intensify." Zhu Jun, director of the international department of the People's Bank of China, said "that resulting measures would be more likely.

Although the markets have not reacted too much to the weakening of the yuan this week, it is possible that "the yuan will further weaken by unexpected blows in the future," said Yu Yongding, researcher at the Chinese Academy of Social Sciences.

While politicians were apparently determined to soften the yuan, the People's Bank of China "must be patient and not adjust short-term exchange rate policy because of volatile markets," Yu said.