The simplest way to do that is for the currency to strengthen, but the peg prevents nominal appreciation.

ECONOMIST: The dollar

After that we expect several years of nominal appreciation but probably no real appreciation in home values (after adjusting for inflation, which is likely to rise).

FORBES

That means that, even with China allowing only a modest nominal appreciation of the yuan against the dollar, American firms are looking a lot more competitive than they were a few years ago.

BBC: Could the US economy go the way of Japan?