What would you have us do? Slap high tariffs on cheap imports? This would, once again, gain the ire of the WTO, as well as angrying Americans who are hooked on cheap foreign goods. The US doesn't have the position it used to have with protected technologies, or the ability to produce goods cheaply that others can't produce at all. American goods cost too much; both on the world market and here at home. In order to regain world market share, that cost has to go down. There are a number of ways to do it. It seems to me that the government has chosen to devalue the dollar as one way to accomplish this. Whether the dollar can be devalued at a slow enough rate is the question.Hedge
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