Asian exporters are feeling rising inflation pangs and passing their increased costs on to Western consumers, who have been spoiled for decades by cheap imports from countries like Japan, Korea, China, increasingly Vietnam and India. The New York Times explains that because about half of all US imports are produced by developing countries and the onset of inflation in these countries arrives as many of their currencies are rising against the dollar, consumers in the US will be feeling this two-sided hit. We'll be paying more because the dollar buys less, and also to cover some of the higher production costs.
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