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"As to exports, not now.
It was second only to exports.
After all, the boost to exports is rather handy.
First, as in China, imports become cheaper relative to exports.
A new Honda plant will be devoted specifically to exports.
Their activities reach into everything, from imports of bootleg vodka to exports of Persian cats.
The Chinese government was reluctant to do so, fearing the cost to exports.
There is absolutely no evidence of any rebalancing to exports or manufacturing.
That would far outweigh any potential increase to exports or tourism revenue from a devaluation.
They serve as a subsidy to exports, but also act like a tax on imports.
This erodes the competitive boost to exports resulting from the original depreciation.
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