The question is simple. Because China saved a lot of foreign exchange in dollars through foreign trade export, it also caused a huge trade deficit and unemployment in the United States. Americans don't want to say that we should try our best to reduce the unemployment rate and curb China's cheap products (creating trade frictions, setting trade barriers, forcing the RMB to appreciate, and raising the prices of products made in China). In order to continue to do business with the United States, China agreed to compromise. Let's talk about the appreciation of RMB (there may really be the fact that RMB has been undervalued for a long time, so we won't discuss it for the time being, and we haven't done any research). Well, a lot of hot money from international financial speculators (also called hot money, which can be specific to Baidu) entered China in the name of trade account (or investment) when USD/RMB = 1:8, and was converted into RMB at the current exchange rate of USD/RMB = 60.

This does not include the interest on the money in China.

At that time, Japan was calculated by the United States, but it was much more hateful than China now. At that time, the Japanese yen was freely traded in the international market and could be operated by financial means.