We import four times as much from China as we export. When they devalue, it helps the importers, and hurts the exporters. It isn’t uniformly good or bad.
don’t go bringing in logic and economics....no one around here cares about either anymore.
“It isn’t uniformly good or bad.”
The importers don’t create jobs in the US. They just send money to China.
When the Chinese devalue their currency, their exports become cheaper and they kill the competition.
Then once the competition is dead (or relocated to China) they appreciate their currency again.
This is called currency war and Trump knows all about it.
True. But what happens to the value of our goods going that way?
There is the problem.
But this correction isn’t a result of either companies giving guidance on lower results because of the Yuan or because investors sitting at home suddenly said to themselves, “I’d better sell xyz stock because of the Yuan”.
Correct. He's full of it again.