vitaminc

Beware of Crumbling BRICs

"China also has an undervalued currency. If policymakers allowed the currency to float more freely, it would almost certainly erase a large chunk of that country's imported commodity price inflation."

Higher RMB => more expensive goods made in China => higher inflation in US

Blue collar jobs complained most about China's RMB but now they are getting burned because of a richer RMB.