[mpreda]

What is not explained in the article is how China is "weakening the value of its currency".

The answer to that question may offer a new insight on the situation, and help decide whether it's good/bad and for whom.

As I understand, weakening one's currency (in real terms) is not an easy thing to do. As an example, in the case of the Greece economic crysis mentioned in the article, Germany was considered as having benefited from the common currency (Euro, shared among others with Greece) to maintain a stable currency while sustaining a high positive trade balance.

What I suspect is happening is that China is buying US treasury bonds (exchanging Yuan for USD in the process), thus supporting the value of the USD.