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I think it very likely that most of the US government is cheering a devalued dollar; weak dollar = significantly increased exports, and jobs. America really, r
by vessenes 16y ago
I think it very likely that most of the US government is cheering a devalued dollar; weak dollar = significantly increased exports, and jobs. America really, really needs both of those right now.
What's clear in the last few years is that nobody is going to shoot missiles or send troops over currency devaluation; this is a relatively simple way to boost your own country's economic strength.
Since we're more decentralized than say, China, those who'd like devaluation can't just mandate it, but I'd be stunned if a weak dollar is seen as a bad thing by the current Administration.
- vessenes 16y agop.s. The article imagines China dumping their $3T in US dollars; that would be a real surprise; it would cause more strain on the RMB-USD rates, and boost US exports.