Nice that he’s pro-American, but he’s suggesting curing the symptom instead of the root cause.
The root cause of our problems is the dismal outlook for business in the U.S., not currency manipulation.
The dismal outlook is made up of the following:
a) unions
b) big-business cronyism and small business no influence
c) lack of spending control by government which mathmatically requires future tax rate increases
d) communist-controlled public schools which turn out adult citizens who are ignorant of and virulently anti-business
e) special-interest-driven environmentalism
All of these combined are far too much for capital formation to overcome and capital is flowing outside the U.S., in spite of the long-term fact that the undermining of the U.S. will result in complete breakdown of legitimate private-property rights free enterprise and therefore a collapse in all investments in advanced economies.
A high tariff on import of Chinese manufactured goods will only allow the failed paradigm that we have been sliding closer towards since the 1970’s to last a bit longer.
We need to schoolmaster’s harsh stick of simply no allowing the import of manufactured goods, only raw materials.
Manufacturing jobs will then return out of necessity. However, if the above obstacles are not ALSO removed, the U.S. would suffer the high prices that those obstacles entail.
The Washington lobbying community would be utterly difficult to overcome in their opposition to these fixes, because they would require big business to do some real work.
If by some miracle these obstacles are removed and manufacturing returned, the U.S. dollar would strengthen so much that we would gain an enormous raw materials purchasing advantage over EVERY other nation. China would basically fall back into poverty, with no ability to provide jobs for it’s people by exporting manufactured goods to the U.S. and a worthless currency of their own. They would once again be desparate for U.S. dollars with which to buy oil and raw materials.
The changes that would be necessary, though, are a complete transformation of the communist-infested, cronyism-based society we now live in.
The increasing rate of gains from job displacement of whole economic sectors from a nation are temporary; once the whole sector is gone, the costs at that point are the new normal. For the nation doing the work and exporting goods, they have an artificial outside boost to their economy, as they can pay citizens with money that their citizens do not have to spend, as citizens of other nations are spending for the exported goods.
No import of manufactred goods? Well I completely disagree with that.