Exchange Rates

That is my understanding, but this is second-hand information, not my area of expertise.

Not my field.

Yes, but the situation is not as extreme as was the case a few years ago.

Everyone thinks so. Can everyone be wrong? Yes. But not every time, and not most of the time.

Seems uncontroversial.

The undervaluation of the currency is part of their growth strategy. Higher prices for consumers; more demand for products from abroad.

multiple trillions of foreign reserves, giant trade surpluses, fighting to contain domestic inflation. Smells a whole like undervaluation.

China has many policies; some raise and some lower the value of the yuan. Absent the ones that lower its value, it would rise.

The same policies are creating big imbalances in China by thwarting price signals. The eventual adjustment for China could be ugly.
-see background information here

They use the exchange rate for monetary policy, but some knowledgeable economist believe that the rate would be higher with float.

Would expect that China amassing $3 trillion in dollar reserves has an effect on the exchange rate.

I don't know enough about what China may or may not be doing to state an informed opinion.

Although these policies also increase inflation, what erodes a portion of the impact on the real exchange rate.

Not my terrain. I know little more than what I read in the unreliable press.

Not my area.