Don Boudreaux talks with host Russ Roberts about Chinese exchange rate policy and the claim that China keeps the value of its currency artificially low in order to boost exports to the United States and reduce U.S. exports. He argues that regardless of whether China is manipulating its currency, inexpensive Chinese imports are generally good for the United States. He also points out that U.S. manufacturing output has been thriving despite claims that the United States is being "hollowed out." The conversation also includes a discussion of whether Chinese holdings of U.S. Treasuries threaten the United States.