"Can't forget their dollar/yuan "managed" exchange rate"
A currency tied to the dollar is not a subsidy, any more than a common currency between New York and New Jersey is a subsidy for New Jersey exports.
Borrowing creates trade deficits. The US has been borrowing massive amounts to simulate prosperity.
When you borrow for the sake of consumption, you import a lot and export a lot less.
It doesn't matter what other countries do. What matters are the choices we make for ourselves. And massive government borrowing and super low rates are bad choices with bad consequences.
A currency tied to the dollar is not a subsidy, any more than a common currency between New York and New Jersey is a subsidy for New Jersey exports.
Borrowing creates trade deficits. The US has been borrowing massive amounts to simulate prosperity.
When you borrow for the sake of consumption, you import a lot and export a lot less.
It doesn't matter what other countries do. What matters are the choices we make for ourselves. And massive government borrowing and super low rates are bad choices with bad consequences.