China has many serious problems, but its situation simply does not prove what you are suggesting here.
China is a once heavily communist country that has been transitioning its economy for awhile now, and it has been quite successful at it. The idea that it is a fake prosperity ignores the changes in quality of life that have happened.
The problems it faces now are not insurmountable. It is easy to list off everything China should do and point out the corruption, but it doesn't really prove anything about fiscal stimulus in the USA.
Dismissing the government stimulus/intervention without considering what would have alternatively happened, a long and deep depression, is disingenuous. That would have been a horrific result, and we would all be worse off.
China is a once heavily communist country that has been transitioning its economy for awhile now, and it has been quite successful at it. The idea that it is a fake prosperity ignores the changes in quality of life that have happened.
The problems it faces now are not insurmountable. It is easy to list off everything China should do and point out the corruption, but it doesn't really prove anything about fiscal stimulus in the USA.
Dismissing the government stimulus/intervention without considering what would have alternatively happened, a long and deep depression, is disingenuous. That would have been a horrific result, and we would all be worse off.