Chinese Economy

This question has to do with China and its exchange rate regime. China has a ‘fixed’ rate regime and America and almost all of the developed world have a ‘flexible’ exchange rate regime. Has a fixed rate regime been good for the Chinese economy and Chinese workers? Has their fixed rate regime been bad for the US economy, meaning we get to buy their products extra cheap, but then what are they doing with the money since they do not buy from us? What about the American workers? Also, has the Chinese fixed-rate regime been bad for the Chinese consumers, if so, how?

Answer with at least 4 paragraphs. Once again, there is no right or wrong answer, just use your critical thinking skills.