Two economists from the Federal Reserve Bank of San Francisco published an interesting report this week that analyzed the potential for Chinese currency inflation to affect U.S. consumer expenditures.
In non-wonky English, they looked at how much money Americans spend on goods and services from the U.S. vs. China. What they found is that only a tiny percentage of our spending actually ends up in the hands of the evil communist Chinese.
The fed report is pretty damning when you look at in terms of the pre-conceived narratives about China that we’ve been told by both the commie-hating right and the Walmart-hating left. Continue reading
