| Compare Japan's agony to China's ecstasy. China's boom during the past two decades has been predicated on a currency that has been, largely through government control, very weak. In fact, the renminbi has been so weak that in recent years, the Chinese have been able to manufacture products more cheaply than just about any other country in the world.
The 'China price' has been one that mature economies have been unable to match. As such, we have witnessed one of the greatest international transfers of wealth of all time, as most of the world's manufacturing has moved lock, stock and barrel from the developed world to China...............................................Full Article: Source
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