I saw this today on the news. Apparently the government is complaining about the chinese inflating their dollar.
Can someone explain this to me.
The US is (just like China) labouring under mercantilist delusions and therefore pressumes that the Chinese undervaluing their currency hurts them and benefits China. When actually the opposite is the case.
It is all very idiotic, the Chinese holding firm to withstand pressure in order to continue transfering purchasing power from their populace to the foreign customer, and the US government exerting pressure for the removal of Chinese government subsidy to its populace.