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China revaluation would hurt US: World Bank

1 pointsby soundabout 15 years ago

1 comment

byoung2about 15 years ago
<i>because most of the products China exports to the United States are labor-intensive goods U.S. manufacturers stopped making years ago, the U.S. would only have two choices: buy the products from other countries or from the Chinese. </i><p>The 3rd option would be to tap America's dormant manufacturing capacity (e.g. mothballed auto plants in Detroit) to produce these products domestically. With a savings on shipping, the cost could be competitive with higher prices from China or other countries, and it would create much-needed jobs in the US.