[Errant]

An important point always overlooked is that the US is dependent on China for many manufactured products including high technology products that are no longer produced in the US. Revaluation of the Chinese currency would raise the dollar price of these products in the US. The greater the revaluation, the greater the price rise. The impact on already declining US living standards would be dramatic.

Very true. I believe the Chinese will stick with what serves their interests regardless of US governing class wishes. We'll counter by depreciating the dollar and either way, the US living standards will fall.

[kearnyirish2]

“either way, the US living standards will fall.”

You say “already declining”; our standard of living is falling more quickly than people realize. More people are buying sub-par products rather than name-brand (see Q-tips as a perfect case in point), home ownership is up in smoke, as is “new car” ownership for most people, and savings have been depleted. The “new normal” (rock bottom) hasn’t been reached yet. Look for higher unemployment, lower birth rates, and the rapid depopulation of the costliest areas of the country (already happening here in NJ).