It’s actually even worse than that. Yuan purchasing power in China is almost 1 to 1 USD for most regular purchases, i.e. groceries in China cost 50 yuan while they cost 50 USD in USA.
It only converts 1 to 7 USD for very large purchases like electric cars, mostly determined by whether said large purchase required materials from outside of China, which would be priced at USD prices.
Thus, the impact of that stolen money is more like 100 million USD in the US.
It’s actually even worse than that. Yuan purchasing power in China is almost 1 to 1 USD for most regular purchases, i.e. groceries in China cost 50 yuan while they cost 50 USD in USA. It only converts 1 to 7 USD for very large purchases like electric cars, mostly determined by whether said large purchase required materials from outside of China, which would be priced at USD prices.
Thus, the impact of that stolen money is more like 100 million USD in the US.