If forcing China to raise the value of Yuan against USD by let's say 30% for instance, the products sold in US from China would still be MUCH cheaper than American made product due to the GIGANTIC purchasing power parity or wage difference between Chimerica.
Roach Spars With Krugman Over Call to Pressure China on Yuan
In fact, let's say U.S. is going full-fledge trade war with China, let's say by imposing tariffs on Chinese goods, for that same 30%, not only the average American family would not gain, in fact, they would still have to buy Chinese or other emerging countries made goods (thus, contributing to the same trade deficits), but at a greater cost to them. Only the government benefits in the short run (higher tax revenue from the tariffs), not the American families.
This is called an inefficiency in economics, nobody benefits.
An example of U.S. "forcing" a big surplus country to appreciate their currency is, Japan! Look what it does to the U.S.-Japan trade deficit! Nothing! Absolutely nothing. Talk about a political scapegoat then, the YEN.
