How Currency Manipulation Creates American Jobs
Updated chart based on a previous CD post:
The chart above shows (data here) that more than 53.2% of all U.S. imported goods are: a) industrial supplies (chemicals, commodities, raw materials, etc.), and b) capital goods (machinery, equipment, parts, tools, etc.) which are being purchased by AMERICAN COMPANIES as inputs for production in the United States. Being able to purchase Chinese and other foreign inputs at the lowest possible price makes American companies MORE competitive, sell MORE of their products, and hire MORE American workers. Therefore, to the extent that American companies buy their inputs from China, one could argue that China's currency "manipulation" of appreciating the U.S. dollar helps American companies and actually SAVES and CREATES jobs in America.