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Sure it is. If it wasn't, then we wouldn't have these environmental issues, which are a direct result of our economic activity.
"but if the dollar goes up relative to the euro then the euro goes down relative to the dollar, so it is a winner-loser game."
Right. And trade and jobs would be thrown into a tizzy as we quantitatively ease.
I'm not sure how currency exchange and the economy can be separated. They're linked. How can one thing be a zero sum game, and the other thing not be, especially when they concern the same aspect of society. If what we do with our currency, or if what China does with its currency, matters to any other nation's economy, so much so that it's tough shit to any complaints from abroad if we do what we want, then they're linked. Outsourcing wouldn't matter otherwise. Neither would legal or illegal immigration. Automation wouldn't make any difference.
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