The New Yorker editorial raises some interesting points about a shift in the new century to higher skilled jobs, and a lack of skilled workers here (although wrongly, laughably suggests somehow raising the minimum wage should be part of the solution) but it misses an even bigger point for the cause in Chinese downturn. Their economy has taken a hit in recent years especially last year. Mostly because of their artificial devaluation of their currency. And this is Trump’s main point.
They are manipulating their currency to be artificially competitive with ours and that needs to stop. That’s what Trump is saying has been saying even before he started running for Presidnent. And he’s right the Chinese need to be stopped in their currency manipulations.
He’s right in that they are laughing at us for either not catching on to this or not doing anything about it. I think he will do something about it. It’s not rhetoric it’s real.
And it's worth noting that with QE1, QE2, QE3, etc. -- the U.S. is no different than anyone else when it comes to manipulating its currency value.