Quote:
Originally Posted by John@AutoAgenda
Especially if they won't keep their warranty any more. Would be cheaper in the long run.
With China manipulating it's currency the way it is we are literally giving them billions upon billions of dollars to rebuild their country in ways we should be doing to ours.
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China is not manipulating it's currency to cheat the U.S. or any other country. Currently the issue with china is that they have bought so much of our debt the Yuans current market price that if they were to go to a floating or on the currency exchange market they would literally lose 30% to 50% of the money.
In simpler terms the yuan is somewhat fixed at a 7.5 yuan to 1 us dollar currently. They bought 5$ billion in US dollars of debt. That is equivalent to 37.5 billion yuan. Of the scale were to float the true price of the yuan would be closer to 4 yuan per US dollar. With that original 5$ billion they would only have 20 billion in actual us dollars. Over night people would lose their fortunes. Companies bankrupt.
As well here are a few prices of things.
24 oz Tsingtao there 4yuan or .60$ usd
Here a 12 oz Tsingtao is 3.50$ usd
A full plate of food 7 yuan
3 Full custom tailored suits- 1500 yuan or roughly 200 usd.
And I mean fully tailored with the same fabric you get anywhere.
I don't think they are manipulating it, but rather saving their own asses.