Us is suffering from inflation.
China is suffering from deflation.
It is two different things. Is a complete opposite.
That is why you can see a lot of Rich Shanghai niece moving out of China to other parts of the world.
In China, 70% of the economy is being driven by infrastructure spending. How do they fund their infrastructure spending, they did it by their manufacturing industry.
20% of the economy is only consumer spending. Then we have a terrible real estate bubble and is actually dragging down on the consumer spending. When there is a drag on consumer spending，people will buy lesser. The retail industry will suffer. No one will rent their property. When no one rent your property, no one will invest in new property. In the end your property price will drop further. If this goes on longer, the landlord will have problem paying their installment to the banks. The banks will suffer a banking crisis. Because of overly exposed loan to this property sector.
Don't forget that is US is playing the tariff war. The manufacturing is suffering. The workers got lay off. Entire supply chain has to move out of China. This will lead to more job losses. Your upper and lower chain of supply chain will suffer.
As for US, they are very transparent and very far right about their debts. The figures are verifiable. You're very transparent. The US has massive financial market. The depth and breadth in these area are immeasurable. You cant find a replacement market for that. USA have rule of law for all these. People trust the system.
So if someone has to rival USA,for example China. They must make their own people rich and they have their own consumer market. They can then place tariff on others if they feel like it.
One must recognize that the string of the US economy is also back by strong banking and finance, technologies and a strong military and a strong consumer base economy. Who will want to sell their product to china where the consumer power is lacking and rift with copying .
