this post was submitted on 01 Oct 2023
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[–] ChicoSuave 86 points 1 year ago (9 children)

It's not just America. The CCP specifically knew what American shareholders wanted and provided a cheap source of labor for foreign businesses. By depressing the Yuan the government kept prices for services low when compared to any domestic company. It was a plot started by ruthless executives looking to sacrifice anything for lower operating costs but it was recognized and abused when the Chinese government saw how to exploit it.

[–] Abucketofpuppies 1 points 1 year ago

They also secured a stranglehold over the global rare earth element market. Whoops.

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