For years now a certain section of the public has been screaming that China and various other nations are currency manipulators. By which they mean that those other countries have been pushing down the value of their own currency. This makes their exports to the US cheaper which means that Americans buy more of them. Those doing the screaming are usually those losing cushy numbers as a result of this competition. The correct response to all of this is to do absolutely nothing of course, for cheaper imports make Americans richer. But over and above that there's no real evidence that these various countries are in fact ... (full story)