China, again
Source Shane Mage
Date 03/09/26/11:09

Elementary fallacy here:
>[Far Eastern Economic Review]
>...The renminbi is pegged to the dollar, so the U.S. currency's slide this
>year has made Chinese exports even cheaper...

Cheaper, yes--but not against the dollar-denominated US products!
Indeed, if there is any effect at all it would be to divert Chinese
exports to non-dollar areas and thereby *lessen* China's
trade surplus vis-a-vis the US.

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