If China sells a widget for 1 dollar, then that is equal to 6 RMB. But China has to loan the us 1 dollar in order to make that purchase. Businesses who arent making that loan get to profit, but the Chinese government has to subsidize us consumer spending so that those businesses can make that profit. The total profitable gain made by businesses is equal to the total loss that the Chinese government must suffer to generate that loan.
The Chinese government could subsidize anyone so that businesses can turn a profit. They could drop RMB from helicopters across China, and the net result would be the same.
The other angle is that the us doesnt even need a loan from China to purchase Chinese goods. The us can simply print the difference. The us doesnt post a trade surplus with anyone to finance its trade deficit with China. It simply increases its own volume of money by fiat.
Further demonstrating that any profit made from international trade is an illusion.
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