According to the director of the Peterson Institute for International Economics, C. Fred Bergsten, a 20% rise in the renminbi, China’ s currency, will reduce Mainland’s external surplus from $350 billion to $500 billion and the external deficit of the United States from $50 billion to $120 billion. This would create 300,000 to 700,000 high-paying jobs in the United States. – Economix
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