The PRC is protectionist.
Chinese markets are CLOSED.
Changing the exchange rate won’t do diddly squat. We still won’t sell exports to China, because...
(wait for it)
China is protectionist.
That is the problem. Not “exchange rates”. China is deliberately keeping our goods out of their markets.
We remain clueless, with open, shrinking consumer markets.
Close down Walmart see how that goes with the voting American public: Walmart must be close to the biggest importer of Chinese goods in the world, and I can remember a time when they boasted of the percentage of their goods that were American-made.