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If the Chinese were to sell them into a market without a strong Chinese demand for them, the result would be an appreciation of the Chinese currency relative to the U$, and if it was done in the kind of massive way raised by fear mongers, would result in a US export boom to China.
And that would not be a harm to the US as such, though it would be a harm to those interests within the US who believe they benefit from a sluggish labor market, and who raise funds in US$ in order to actually invest them elsewhere. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
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