Problem 1: As the U.S. dollar appreciates in value relative to the Japanese Yen, what happens to the price of U.S. goods in Japan? What happens to the price of Japanese goods in the U.S.?
Problem 2: Why would a country (for example China) choose to keep their currency relatively pegged to the U.S. dollar?
Problem 3: If the U.S. dollar were to appreciate considerably against most currencies, what would be the effect on Chinese exports to countries other than the U.S.?