RedPope, yes, I'm aware of the RMB (Chinese yuan) pegging against the dollar and how the Americans are continually moaning about it. The problem is that the Americans don't really have the financial strength to stand up to China, since China holds a heck of a lot of American debt in the form of bonds.
The Chinese could -- if they so chose -- crash the dollar and virtually destroy the American economy if they wanted to pull the plug.
The Americans just want to have their cake and eat it (just as most other consumers do). They like the cheap Chinese imports but then they don't like the fact that their own exports are relatively expensive. American consumers can't have both cheap imports and a competitive manufacturing industry, the sums don't add up.
RedPope, yes, I'm aware of the RMB (Chinese yuan) pegging against the dollar and how the Americans are continually moaning about it. The problem is that the Americans don't really have the financial strength to stand up to China, since China holds a heck of a lot of American debt in the form of bonds.
The Chinese could -- if they so chose -- crash the dollar and virtually destroy the American economy if they wanted to pull the plug.
The Americans just want to have their cake and eat it (just as most other consumers do). They like the cheap Chinese imports but then they don't like the fact that their own exports are relatively expensive. American consumers can't have both cheap imports and a competitive manufacturing industry, the sums don't add up.