I just don’t get it. The Chinese steal our intellectual property, hack into our military systems, counterfeit our goods and renege on our extradition treaty — and 230 of our “lawmakers” want to put an end to the one thing they (well, in this specific case Japan) do that purely and directly benefits us. That is, they (allegedly) purposely—through cheapening their currency—make their goods as affordable as possible for you and me.
That (attempting to influence our trading partners’ currency policies), as you’ll see below, is crazy! Well, crony, actually.
Note: In the following, as in the above, I reference China, rather than Japan, simply because we’ve been barraged by politicians (think 2012 presidential race), industries, trade unions, etc. on this same issue with regard to China. Plus, it allows for my clever opening paragraph above :). Also, in my attempt at brevity, I mention only the relationship between politicians and exporters, while I should have included—alongside the exporters—local manufacturers, trade unions, etc…