Well, you're simplifying the facts to support your "everyone's out after American jobs" theory. I hate to be defending the Chinese here but bear in mind that their switch to market economy is a fairly new phenomenon (~20 years or so).no no no , you misread what I was saying. You and I are saying the same thing. When I say they are forcing the devaluation, I am speaking of the Chinese government forcing the value down. Most economists say it should be valued higher which makes it stronger than what the value represents. When I said ask an economist, I was saying ask what benefit China has by keeping their currency under valued. It is kind of scary if you go as far as conspiracy theorists reasons since so much of our debt is being bought by China.
It's early in the morning. Sorry if my post was confusing.
Here’s the irony - when the last currency crisis hit Asia (Thailand, Korean, Indonesian, etc. devaluations which spread to Mexico, etc) the US had to loan out tons of money to different countries, Mexico among others, in order to stabilize their economies (in effect to protect our trade). At that time the US was praising China for protecting their peg to the US dollar and not devaluing the Yuan like everyone else did.
Fast-forward 10 years or so and now we are blaming the Chinese for doing what we praised them for when Clinton was in power. Remember, only recently did they remove their peg to the dollar and now their currency is gaining strength albeit slowly. If their currency gains strength too fast it'll cause many lost jobs in China and create severe food shortages in that communist dictatorship – remember their government cannot afford a public dissent. I’m not defending their actions but explaining as to why they chose the “slow” approach to strengthening the Yuan.
I can however guarantee you that 10 years or so from now, we’ll be regretting that their currency has gotten that strong – you think many American business are getting bought out by Middle Eastern, and other ‘less reliable” governments? Just wait until the Chinese try to decide what to do with the loads of their suddenly super strong “Yuans.”
You say that you're against the China -US trade but for the mutually beneficial trade between Europe and the US. Well, I got news for you, that "beneficial trade" between the US and Europe has been despised in the past by many European workers (and very often it still is) because they felt like the US was ‘stealing’ the European jobs - sounds familiar?
It took several generations before Europeans learned that those jobs weren't really "theirs" but rather belonged to the company providing them and if their governments didn't keep the taxes and business costs in check, those jobs wouldn't stay there too long.
You're basically experiencing what European workers have been experiencing since the early 60s. Nothing new here and we will keep loosing some jobs and gaining others; it’s part of the business cycle and it's our government’s job to keep the business conditions here in the US good enough for more businesses to keep moving here or simply staying here than from moving out of here.
Your theory of anti-American job conspiracy is simply untrue but if it makes you fell better to have someone or something to blame for the demise of many American jobs please go ahead, I’m not going to hold that against you...