China revaluation would hurt US: World Bank

economictimes.indiatimes.com

1 pointsound1 comment

because most of the products China exports to the United States are labor-intensive goods U.S. manufacturers stopped making years ago, the U.S. would only have two choices: buy the products from other countries or from the Chinese.

The 3rd option would be to tap America's dormant manufacturing capacity (e.g. mothballed auto plants in Detroit) to produce these products domestically. With a savings on shipping, the cost could be competitive with higher prices from China or other countries, and it would create much-needed jobs in the US.

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