China revaluation would hurt U.S. jobs: study
Quote:
Extensive outsourcing by U.S. industry means that a revaluation of the Chinese yuan sought by many U.S. politicians would destroy U.S. jobs, a study by independent economists and other experts said Thursday.
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Because so many U.S. exporters buy parts and components from China, the revaluation would raise their costs, resulting in a hit to U.S. exports that would cost 424,000 U.S. jobs, it said.
