From Stop Blaming China:
For all their sins, foreigners should not be blamed for America’s large trade deficits. China especially is doing nothing worse than producing goods that are cheaper than those produced elsewhere.Never mind the Chinese policy to keep their currency artificially weak. In all events, this is doing them more harm than good. China gives Americans things that they want in exchange for green bits of paper that are depreciating.
China gives Americans things that they want in exchange for green bits of paper that are depreciating.