Is this idea feasible to stop importing goods made-in-China? Neither side gains.
It seems that we should find a way out to use those US dollar reserves while keeping our currency appreciating.
I bought some coffee made in Viatnam a few days ago, cheaper than our domestic products, which made me happy.
Even if Americans don't import Chinese products any more, no matter from policy level or from cost level as a result of RMB's appreciation, they can easily change to import other countries cheap goods, which in the whole sense won't change their domestic situation very much. In contrast, RMB's appreciation will bring Chinese more benefit as Chinese purchase power in the global market will increase relatively and China's impact to other countries will get far-reaching. I don't like US dollar depreciates solely, which will also decrease the purchase power of our country on the basis that we hold many US dollar reserves and US debts.
To some degree, we stand in the same position as that of USA.