U.S. vs. China Debate

The reason you never hear about these things happening in China is because their country is run very differently than ours, for starters, it is a Communist country. Since their government owns and decides upon everything they have taken a different approach to how they run their economy, as inflation continuously rises but it fails to affect them. China’s ideology is based on the downfall of the United States, and therefore they are focusing on the long term outcome of their current economic plan. In the U.S. we pay back our debt by borrowing from ourselves and printing more money which in essence causes inflation to increase and fluctuate as the national debt does. In China, we see the same borrowing but not the same fluctuation of inflation due to the fact that the Chinese government does not acknowledge it, instead they continue to depreciate their currency simply because they can. The American way of thinking has made us ethically think and take into consideration how our inflation may affect other countries along with themselves, whereas in China policies and inflation doesn’t affect its residents; interest rates are only increased to countries like ours because we depend so highly on trade with China for goods. This works out for communist countries because their people won’t revolt, and the government can increase or decrease prices of goods to make them worth whatever they want. With our economic understanding we would like to think that the Chinese people are suffering and working hard to merely feed their families, and this may be partially right but in essence when their inflation increases, the interest to the U.S. also increases so we continue to pay the salary of their workers while they don’t experience any kind of setback from their unrecorded inflation. Their economic plan is solely focused on their country which is why China exports tremendously, doesn’t outsource, and hasn’t seen or been at risk of a recession up until the pandemic and since then we have seen them quickly recover. For this, China is the superior country and in the next 10 year may very well be ahead of the United States; we seem to be going further and further into debt without a way to come back and that is where China will want to swoop in and take over what we have going. The way things are headed for the U.S. predict another recession within the next 2-4 years and we will continue to see China as a strong and growing economy.