And the exchange rate is mentioned precisely zero times in that article, as is the current unused and underused labour in the economy. Instead it drops straight onto land which we can’t make any more of.

Do it again with a factory that puts on a double shift with the unemployed and see what happens.

Do it again with the Chinese sovereign wealth funds, the likely source of mercantile intervention, offering 14 CNY per USD rather than the current 7.

It’s unlikely that any production will move. What’s more likely to change is the quantity and location of financial savings. The distributional impact of that change is probably unknown.