Re: Why, Yes, Marc. Our sky is blue. What's yours?
I saw the Democratic party primary, in 2016, as an example ( the best example) of the amazing lies that pass for informatjon & debate, and which tells us alot about the con job involving labels.
The media kept referring to Martin O'Malley as "the progressive Governor from Maryland", but the guy was nothing of the sort. Poor people, who had Medicaid, would did from mouth infections, because Medicaid would not cover "dental" ailments until the deadly infection spread far enough beyond the mouth ( often to the brain) to count as " medical". Known as "too late", for many.
O'Malley liked to bash Sandets over the "socialist" label (like many Klobuchar types would, 4 years later), but he basked in his "progressive" label. He wanted to be a "progressive" alternative to Hillary.
He endorsed H Clinton, after he got his much deserved 0% in Iowa. It is amazing that no Democrat has gotten more than 52% in Maryland governor's races, since Glendening got 56% in 1998. (O'Malley got 52% in 2006 and 51% in 2010). That roughly corresponds to the O'Malley ascendancy. (Biden won 65 to 33, and Obama won 62 to 37 and 61 to 36)
Democrats are the ones who like to twist labels. The GOP just sits back and watches.
You mentioned jobs being lost when currency is strong, but failed to mention the job losses from a weaker currency.
The People's Bank of China (PBOC) officially declared a strong currency to be vital to the nation's economy. The allowed fluctuations are precisely limited.
As for the claims that China undervalues its currency, see this article:
Does China Devalue Its Currency?
By Daniel Fernandez
September 4, 2019
The article looks at the long term fluctuations since the big 2005 change (current to 2019).
The Wall Street Journal has a 2021 article describing the higher Yuan value as well.
(Until the last few years, China has seen wage increases that are so high, it is hard to believe that it has come with so little inflation. 2014 to 2019 saw weaker currency, but it was really just a correction. Frankly I always felt China had a supernaturally too strong currency. The GDP & income increases from 2000 to 2014 just did not seem real, and I thought 3014 was going to be the beginning of a massive correction.)
I don't think China wants a weak currency. I just found out that the 6 months, since the February 21 WSJ article, have seen the Chinese Yuan gain 10% in appreciation against the Dollar.
The Yuan was at a 21st century high, January 2014, against the dollar. 6.04 Yuans traded for a dollar.
There was a slide that started in 2015, with some devaluations.
Now, the Yuan is back to 6.21 for a dollar. The difference is just under 3% lower than the century high.
Since 1995, the Yuan gained strength every year, verses the dollar, until 2015. The 2019 article showed that, despite the slump since 2014, the Yuan was still in a position of being 10% appreciated, verses the dollar, since 2005.
(I just read a 6 day old article which reported that the IMF explicitly stated that China is no currency manipulator)
(The article gives reasons why China wants a strong currency, but there are, of course, reasons for depreciation given as well)