Has a fixed rate regime been good for the Chinese economy and Chinese workers?

This question has to do with China and their exchange rate regime. China has a ‘fixed’ rate regime and America and almost all of the developed world has a ‘flexible’ exchange rate regime. Has a fixed rate regime been good for the Chinese economy and Chinese workers? Has their fixed rate regime been bad for the US economy, meaning we get to buy their products extra cheap, but then what are they doing with the money since they do not buy from us? What about for the American workers? Also, has the Chinese fixed rate regime been bad for the Chinese consumers, if so, how?

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