| The problem addressed in this qualitative content analysis is the perception, based on traditional economic theory, that manipulation of the Chinese currency, the renminbi (RMB), by the Chinese government has caused economic problems in the United States, including unemployment and a growing trade deficit. This perception has led to troubled trade relations between China and the United States. The purpose of this study was to examine the overarching question of why RMB revaluation is an area of focus for improving the U.S. economy. Four sub-questions included (a) identifying the expected effects of revaluing the RMB on the U.S. and Chinese economies; (b) actual historical effects of revaluing the RMB from January 1, 2005 thru December 31, 2010; (c) understanding why the Chinese resist revaluation of the RMB and why some American politicians, economists, and government officials support it; and (d) options the Chinese are taking to revaluation of the RMB and the potential impact on the U.S. economy. As a qualitative content analysis, publically available opinions and statements expressed by leading Chinese and American officials, economists, and politicians were examined and analyzed using historical cultural aspects of how the Chinese deal with strategy, conflict, A primary theme crosscutting the research questions illustrated key cross-cultural differences framing economic strategic planning. These findings indicate that the Chinese generally base economic decisions on their cultural background and, in the case of revaluation of the RMB, Americans base their demands on faulty economic theory. Implications for positive social change from the study include a better understanding of why the Chinese oppose short term revaluation of the RMB and why they are pursuing alternatives. |
