You can say the same about last year's debt increase by China. China's debt to GDP ratio last year shot up by 30 percentage points. But GDP increased by 2%.
That's why this analogy is wrong. I am against printing like mad, by last year China and this year the USA. What it makes it mainly increase assets value, artificial growth which makes rich richer and poor poorer.
well, the US government is now jointly financed by the treasury and the fed. if fed is out of the QE, or forced to do a reversed QE, that is forced to cut down its balance, then much of Biden's spending won't have a leg to stand.
USG is trying to cancel the trump era tariffs without looking weak but i doubt China is in a conciliatory mood, especially after everything that's happened.
@DarkStar bro my analysis, the Chinese is expecting and preparing for the worst which is a good strategy. Never let your nation salvation fall to others grace. It makes you look weak, the Chinese smell blood, they had experience the 2008 financial crisis and see the American promise of fiscal discipline being disregard. In Xi thinking the US promise is like that of a tissue paper, they will act on their interest and dispose your agreement when not needed, in other words the American can't be trusted.