People have complained about China valuing their currency artificially low for a very long time. The only question is this: How low can you go?
And are we not trying to reduce our national debt by doing the same thing? Isn’t that the real reason behind the push for a high minimum wage - to monetize our debt?
Of course, there is a price to be paid for doing that, as Chinese citizens will discover.
We are one of the largest global currency manipulators in existence, thanks of course to the fed. We not only kept interests rates at almost 0% for 10 years or more but then compounded that manipulation with quantitative easing on multiple occasions continuing to print money out of thin air. It’s laughable to point fingers at countries accusing them of monetary sins we are guilty of dozens of times over.