———We owe it to places like China who will not find the intentional devaluation of their dollars a “friendly” move.-——
That seems like a reasonable thought.
But....... they used the $$ to grow their country. Even though there might be some loss, there were historically overwhelming gains.
All things, that is all political and sociatal and business gains considered, it might not have been a bad deal for China.
>>All things, that is all political and sociatal and business gains considered, it might not have been a bad deal for China.<<
Yeah, but if all that was just a bubble for china, their position after it pops is worse than before it was created.