washunate commented on the blog post Treasury Declines to Label China a Currency Manipulator
Well said blueokie. The only way to not manipulate a currency is to not have one.
I have toned back my following of day to day political gyrations, and I’m fascinated how out of touch this makes me feel on issues like this that make absolutely no policy sense. I don’t understand the concept of ‘manipulation’ as the politicians are using it. That word implies some sort of natural state.
Plus, I’m confused substantively. Why do we want a cheaper dollar? That makes wage stagnation worse, not better. The vast majority of our economy is domestic production and consumption of key things like energy, food, healthcare, housing, and education. Cheap crap from China is a much, much smaller component of US GDP. The defense/security/intel industry alone dwarfs all combined imports from China.
The economic challenge we face is the domestic distribution of resources, not some action of ferners and terrsts from China to Iran.