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Isn't that common knowledge that China devaluating its currency allows them to take advantage of their big worker population to develop their economy and make t
by jokoon 7y ago
Isn't that common knowledge that China devaluating its currency allows them to take advantage of their big worker population to develop their economy and make the entire world dependent on China's industry?
It really sounds like china is being the smartest one here.
- barry-cotter 7y agoHow? They’re paying more than ten percent of GDP to keep the value of their currency down in a massive subsidy to their export sector at the expense of everyone else in China. They’re subsidizing the rest of the world’s consumption.
- jokoon 7y agoSure, but it's massive advantage for the future of china. It's an investment.