More On Chinese Currency Manipulation
February 20th 2010 04:25
Earlier today, I talked about why China's undervalued yuan was actually a benefit to America. Mark Perry offers his insight:
As I mentioned before, the Chinese government is in essence subsidizing our consumption. Why are we complaining about that?
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the undervalued yuan and overvalued dollar makes Chinese goods cheaper and more affordable for American consumers and companies, saving us billions of dollars, and making us wealthier and China poorer. It would be like accusing Wal-Mart of "manipulation" for offering "Everyday Low Prices," and saving Americans billions of dollars??
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